Madison's gross tax liability is $10,450. Madison had $4,520 of tax credits available and she had $9,300 of taxes withheld by her employer. What are Madison's taxes due (or taxes refunded) with her tax return?

Question

Business

Hope Bullock

24 December, 20:03

Madison's gross tax liability is $10,450. Madison had $4,520 of tax credits available and she had $9,300 of taxes withheld by her employer. What are Madison's taxes due (or taxes refunded) with her tax return?

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Answers (1)

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Sage Wong · Answer 1

Madison got refunded $3,280.

Explanation:

given data

gross tax liability = $10,450

tax credits = $4,520

taxes withheld = $9,300

solution

we get here tax due or tax refunded that is express as

tax due or tax refunded = gross tax liability - tax credits - tax withheld ... 1

put here value and we get

tax due or tax refunded = $10,450 - $4,520 - $9,300

tax due or tax refunded = - $3220

so Madison got refunded $3,280.