Question

1. greggs taxable income from line 39 of form 1040 is $31, 025. according to the tax tables, he owes $3, 533. his job withheld $5, 345 from his paychecks. how much is greggs refund?

$906
$1, 812
$1, 500
$1, 912

Explanation:

Step1: Identify the formula for refund

To find the refund, we use the formula: Refund = Withheld Amount - Tax Owed.

Step2: Substitute the given values

The withheld amount is $5,345 and the tax owed is $3,533. So we calculate $5,345 - $3,533.

$5345 - 3533 = 1812$

Answer:

$1,812$ (corresponding to the option: $1,812$)