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Question
he can take the $5,500 and the $12,950 for $18,450 in deductions
he can take the $5,500 and the $7,000 for $12,500 in deductions
- maricela calculated that she owes $2,493 in federal taxes after all deductions and credits. her w-2 states that $2,670 was withheld in federal tax. this means that maricela...
has to pay $177 in taxes owed
will receive a refund of $177
will pay $177 less in taxes next year since she overpaid this year
should speak to her employer to get the $177 in extra taxes that they withheld
Step1: Compare owed and withheld taxes
Owed tax: $2,493; Withheld tax: $2,670.
Step2: Calculate the difference
Difference = Withheld - Owed = $2,670 - $2,493 = $177. Since withheld > owed, she gets a refund.
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Will receive a refund of $177