Pei is a 26-year-old television executive. She files taxes as a single taxpayer. She needed to withdraw $30,000 from her tax-deferred retirement account to assist her parents with some financial problems. Pei's gross taxable income for the year in question was $162,983.
a. Use the tax schedule shown below to calculate Per's tax liability had she not made the early withdrawal.
Over $0, But not Over $9,525 Tax = 10% of the amount over $0
Over $9525, But not Over $38700 Tax = 952.50 +12% of the amount over $9525
Over $38700, But not Over $82500 Tax-4453.50 +22% of the amount over $38700
Over $82500, But not Over $157500Tax=14089.50 +24% of the amount over $82500
Over $157500, But not Over $200000 Tax = 32089.50++32% of the amount over $157500
Over $200000, But not Over $500000 Tax=45689.50 +35% of the amount over $200000
Over $500000, Tax=150689.50 +37% of the amount over $500000
b. Use the same worksheet to calculate her liability with an increase in her taxable income of $30,000.
c. How much more in taxes did she pay because of the early withdrawal?
d. What was her early withdrawal penalty?​