Question: Problem 2 - 4 8 ( LO 2 - 1 ) ( Algo ) Jamarcus, a full - time student, earned $ 3 , 4

Problem 2-48(LO 2-1)(Algo)
Jamarcus, a full-time student, earned $3,450 this year from a summer job. He had no other income this year and will have zero federal income tax liability this year. His employer withheld $621 of federal income tax from his summer pay. Is Jamarcus required to file a tax return? Should Jamarcus file a tax return?
Multiple Choice
He is not required to file an income tax return because his gross income of $3,450 is well below the gross income threshold for a single taxpayer ( $14,600 for 2024). He should still file a tax return to receive a refund of the $621 previously withheld.
He should compulsorily file a tax return because his gross income of $3,450 is well below the gross income threshold for a single taxpayer.
He is not required to file a tax return as the refund of $621 previously withheld will be automatically credited to his bank account.
He is required to file an income tax return regardless of income and should file a tax return.
 Problem 2-48(LO 2-1)(Algo) Jamarcus, a full-time student, earned $3,450 this year

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!