Question

tylers tax return shows he had $5,000 withheld in federal taxes and his total tax liability is $4,000. what is the amount of his tax refund? $4,000 $5,000 $2,000 $1,000

Explanation:

Step1: Identify the formula for tax refund

Tax refund = Federal taxes withheld - Total tax liability

Step2: Substitute the given values

Federal taxes withheld = $5,000, Total tax liability = $4,000
Tax refund = $5,000 - $4,000 = $1,000

Answer:

$1,000