Question: Problem 5: Determine net tax due(refunded) Sarah and John Conner are married with a taxable income of $120,000 in 2022. Their federal tax rate is

Problem 5: Determine net tax due(refunded) Sarah and John Conner are

Problem 5: Determine net tax due(refunded) Sarah and John Conner are married with a taxable income of $120,000 in 2022. Their federal tax rate is 30% and they have two minor children who qualify for the child tax credit of $2,000. In addition, they had $30,000 of federal taxes withheld from their wages. Required: Determine the Conner's net tax due(refunded) for 2022

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