Tax Calculator programIntroduction / Problem StatementWrite a python program that calculate tax...

Question

Tax Calculator programIntroduction / Problem StatementWrite a python program that calculate tax refund based on steps below, use only functions no objects.Step 1. Calculate the standard deduction. For this problem we are going to assume only two marital status positions. If you are single, you get a $12,200 standard deduction. If you filed maied, you get a $24,400 standard deduction.Step 2. Calculate the adjusted gross income. To calculate your taxes owed, you take the wages and subtract the standard deductions. This gives you your adjusted gross income (AGI). Step 3. Calculate the tax refund or taxes owed. You then use the tables below with the AGI to calculate the taxes.  If the taxes are greater than what was paid, you owe taxes. If the taxes were less, you get a refund.Example  First Name = KevinLast Name = MartinTotal Wages = 50000Taxes Paid = 30000Marital Status = singleKevin Martin’s refund is going to be $25,658.00!Example  First Name = SarahLast Name = HaylandTotal Wages = 25000Taxes Paid = 1000Marital Status = single Sarah Hayland still owes $342.00 in taxes!

Shashank · Accepted Answer

tax_calculation.py
def tax_calculation(f_name,L_name,marital_status,wages,tax_paid):
    # Condition for checking the Marital Status
    if marital_status.replace(" ", "") == 'single':  #If single then standard Deduction is 12200
        std_deduction=12200
    # replace is used for removeing space 
    elif marital_status.replace(" ", "") == 'married': #If Married then standard Deduction is 24400
        std_deduction = 24400
    else:
        std_deduction=0  #No single or married in marital status then its evaluating as 0
    if std_deduction != 0:  #checking marital_status is valid or not by checking std_deduction variable
        total_income = wages-std_deduction  #Toal_income variable containing wages subtracting deduction based on marital_status
        #As per table condition checking income value
        if total_income9875 and total_income40125 and total_income85525 and total_income163300 and total_income207350 and total_income518400:   # Income over 518400 then 32% tax calculation
            tax = 156235+(total_income-518400)*37/100 # 156235 + 37% interest calculation over 163300
        res = tax_paid-tax-3.5          # getting tax paid subtract from current tax
        if res >0:      #if excess tax means resul value grater than zero 
            result = "{} {} refund is going to be ${}".format(f_name,L_name,res) # refund display
        else:
            result = "{} {} still owes  ${}".format(f_name,L_name,

Tax Calculator program Introduction / Problem Statement Write a python program that calculate tax refund based on steps below, use only functions no objects. Step 1. Calculate the standard deduction....

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