Elizabeth determined that her tax liability was $3,954. Her employer withheld $3,476 from her paychecks during...

    

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Elizabeth determined that her tax liability was $3,954. Her employer withheld $3,476 from her paychecks during the year. Elizabeth's tax return would show: A. tax due of $3,954. B. refund of $3,476. C. tax due of $478. D. refund of $478. 7. Hamad is an employee of Mountain Company. He properly completed his Form 1040 tax return and was required to pay the IRS $1,300 at the time of filing. He had income tax withholding during the year of $4,600. His tax liability for the year was? 8. What tax forms do taxpayers normally receive to inform them of wages and interest they earned during the year? 9. Alex is single and had W-2 income of $63,000 and interest income of $200. What is his taxable income? 11. John forgot to file his tax return by April 15. He did not file an extension. John finally filed his tax return on June 30 and had a remaining tax liability of $1,000. What is John's failure to file penalty? Assume he made all his payments on time. Elizabeth determined that her tax liability was $3,954. Her employer withheld $3,476 from her paychecks during the year. Elizabeth's tax return would show: A. tax due of $3,954. B. refund of $3,476. C. tax due of $478. D. refund of $478. 7. Hamad is an employee of Mountain Company. He properly completed his Form 1040 tax return and was required to pay the IRS $1,300 at the time of filing. He had income tax withholding during the year of $4,600. His tax liability for the year was? 8. What tax forms do taxpayers normally receive to inform them of wages and interest they earned during the year? 9. Alex is single and had W-2 income of $63,000 and interest income of $200. What is his taxable income? 11. John forgot to file his tax return by April 15. He did not file an extension. John finally filed his tax return on June 30 and had a remaining tax liability of $1,000. What is John's failure to file penalty? Assume he made all his payments on time.

Answer rating: 100% (QA)

The correct answer is D refund of 478 This can be determined by subtracting the amount withheld from ... View the full answer