Homework Answers
| Sr. No. | Description | Amount | ||
| 1 | Income Tax Liability | $ 3,525 | ||
| 2 | Other Taxes | $ - | ||
| 3 | Total Taxes | $ 3,525 | ||
| 4 | Credits (Child Tax) | $ 2,000 | ||
| 5 | Prepayments (Employer Withheld) | $ 1,500 | ||
| Tax Due with Returns | $ 25 | |||
| Note 1: Employer withheld $ 1,500 and he will deposit the same to government | ||||
| so this amount is eligible as prepayment | ||||
| Note: Tifffany is unmarried and only 15 year old so she is eligible for $ 2,000 Child tax credit | ||||
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Tiffany is unmarried and has a 15-year-old qualifying child. Tiffany has determined her tax liability to...
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their joint tax return to be $2,100. They have made prepayments of
$1,900, they receive a child tax credit of $500, and a recovery
rebate credit of $2,900 (they did not receive this in advance).
What is the amount of their tax refund or taxes due?
What is the amount of their tax refund or taxes due?
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David and Lilly Fernandez have determined their tax liability on their joint tax return to be...
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rebate credit of $2,900 (they did not receive this in advance).
What is the amount of their tax refund or taxes due?
I can't seem to add these up properly, I am getting
the wrong solution with each attempt.
David and Lilly Fernandez have determined their...
Question 12 Barbara is single and has one child, Cheerio. In 2020 her AGI is $25,000....
Question 12 Barbara is single and has one child, Cheerio. In 2020 her AGI is $25,000. Her tax liability before any credits is $400 and she has an earned income credit of $3,584. She had $750 of federal income taxes withheld from her pay. Barbara will receive a federal income refund of Answer saved Points out of 1.00 Select one: Remove flag a. $750 b. $3,934. c. $3,184. d. $4,334 e. $3,584 Clear my choice Answers
19. Clarissa's gross tax liability is $1,300. She has a $1,900 nonrefundable tax credit, and a...
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not understanding how to get the tax liability and the tax withholdings? Required information [The following...
not understanding how to get the tax liability and the tax
withholdings?
Required information [The following information applies to the questions displayed below.) Jeremy earned $101,700 in salary and $7,700 in interest income during the year. Jeremy's employer withheld $11,000 of federal income taxes from Jeremy's paychecks during the year. Jeremy has one qualifying dependent child who lives with him. Jeremy qualifies to file as head of household and has $30,700 in itemized deductions. (Use the tax rate schedules.) a....
Tom Suzuki's tax liability for the year is $2,450. He had $2,050 of federal income taxes withheld from his paycheck during the year by his employer and has $2,000 in tax credits. What are Tom's taxes due or tax refund for the year?
David and Lilly Fernandez have determined their tax liability on
their joint tax return to be $2,100. They have made prepayments of
$1,900, they receive a child tax credit of $500, and a recovery
rebate credit of $2,900 (they did not receive this in advance).
What is the amount of their tax refund or taxes due?
What is the amount of their tax refund or taxes due?
David and Lilly Fernandez have determined their tax liability on their joint...
Markt Ashley is single and lives with Barney, her boyfriend, and Candy, his 8-year-old daughter Ashley paid all of the support for her household in 2018 Barney has earned income of $2.500 and had income tax withheld from his wages. He has no other income and is not required to file an income tax return. With one qualifying child. Bamey may claim an earned income credit Barney files an income tax return solely to obtain a refund of withheld income...
David and Lilly Fernandez have determined their tax liability on their joint tax return to be $1,990. They have made prepayments of $700 and also have a child tax credit of $3,000, of which $1,400 is refundable. What is the amount of their tax refund or taxes due? Amount (1) (2) Description Total tax Child tax credit Prepayments Tax refund (3)
David and Lilly Fernandez have determined their tax liability on
their joint tax return to be $1,745. They have made prepayments of
$2,290 they receive a child tax credit of $500, and a recovery
rebate credit of $2,900 (they did not receive this in advance).
What is the amount of their tax refund or taxes due?
I can't seem to add these up properly, I am getting
the wrong solution with each attempt.
David and Lilly Fernandez have determined their...
Question 12 Barbara is single and has one child, Cheerio. In 2020 her AGI is $25,000. Her tax liability before any credits is $400 and she has an earned income credit of $3,584. She had $750 of federal income taxes withheld from her pay. Barbara will receive a federal income refund of Answer saved Points out of 1.00 Select one: Remove flag a. $750 b. $3,934. c. $3,184. d. $4,334 e. $3,584 Clear my choice Answers
51680. The David and Lilly Fernandez have determined their tax liability on their joint tax return to be $1,680. They have made prepayments of $975 and also have a child tax credit of $2,000, of which $1,400 is refundable. What is the amount of their tax refund or taxes due? Amount Description Total tax (1)
not understanding how to get the tax liability and the tax
withholdings?
Required information [The following information applies to the questions displayed below.) Jeremy earned $101,700 in salary and $7,700 in interest income during the year. Jeremy's employer withheld $11,000 of federal income taxes from Jeremy's paychecks during the year. Jeremy has one qualifying dependent child who lives with him. Jeremy qualifies to file as head of household and has $30,700 in itemized deductions. (Use the tax rate schedules.) a....
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