Question
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a. Find the amount of federal income tax they must pay.
b. Together they paid in each of their 24 paychecks for the year, do they still owe money or do they
receive a refund?
receives a refund
Ostill owes money
no refund and no further payment needed
c. Find the amount they still owe or the amount of refund.

Ask by Chang Savage. in the United States
Mar 24,2025

Upstudy AI Solution

Tutor-Verified Answer

Answer

They still owe $19,446.24 in federal income tax.

Solution

a. The federal income tax they must pay is
b. They paid in total
in taxes through their paychecks. Since
they did not have enough tax withheld, so they still owe money.
c. The additional amount they owe is

Answered by UpStudy AI and reviewed by a Professional Tutor

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Bonus Knowledge

To find the federal income tax owed based on the amount of , you would typically apply the appropriate tax brackets. These can change yearly, so it’s essential to consult the IRS guidelines for the relevant tax year. But let’s say their calculated tax is based on the provided amount.
Now, for part b, if they paid in each of their 24 paychecks, then they contributed a total of . If their total tax liability is less than what they’ve paid, they would typically receive a refund! So if they only owed , they would get back as a refund.
For part c, the amount they would receive as a refund or still owe is calculated by comparing tax owed with tax withheld. In this case, they get back since they overpaid on their taxes.

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