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

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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!

Sushma · Accepted Answer

Tax Calculation/Readme.txt
1. Tax_calcutor_program.docx :- its file for expalining code and result.
2. Taxes.py :- python file for tax calculation
Tax Calculation/Tax_calculator _program.docx.docx
Tax Calculator program
The step to calculate the taxes are:
1. Calculate the adjusted gross income (AGI)
 AGI= Total wages - Standard deduction
Where, standard deduction will be decided according marital status.
2. Calculates the taxes according to percentage of AGI given in table
 Taxes = some percentage of AGI 
CODES
		
def AGI(Total_wages,Marital_Status):

    if Marital_Status =="Married" or Marital_Status =="married":
        AGI= Total_wages-24400

    if Marital_Status =="Single" or Marital_Status =="single":
        AGI = float(Total_wages-12200)

    return AGI
def tax_married(AGI):
    
    if 19750 >AGI>= 0: 
        tax= float((10*AGI)/100)
        
    if 80250 >AGI>= 19751:
        AGI= AGI-19750
        tax= float(1975+((12*AGI)/100))
        
    if 171050 >AGI>= 80251: 
        AGI= AGI-80250
        tax= float(9235+((22*AGI)/100))
        
    if  326600>AGI>= 171051: 
        AGI= AGI-171050
        tax= float(29211+((24*AGI)/100))
        
    if 414700>AGI>= 326601: 
        AGI= AGI-326600
        tax= float(66543+((32*AGI)/100))
        
    if  622050>AGI>=414701  : 
        AGI= AGI-414700
        tax= float(94735+((35*AGI)/100))
        
    if AGI>=622051 : 
        AGI= AGI-622050
        tax= float(167307.50+((37*AGI)/100))
    return tax

def tax_single(AGI):
    
    if 9875 >AGI>= 0: 
        tax= float((10*AGI)/100)
        
    if 40125 >AGI>= 9876:
        AGI= AGI-9875
        tax= float(987.50 +((12*AGI)/100))
        
    if 85525 >AGI>= 40126: 
        AGI= AGI-40125
        tax= float(4617.50+((22*AGI)/100))
        
    if  163300>AGI>= 85526:

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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