Question

Jamison's gross tax liability is $7,200. Jamison had $2,625 of available credits and he had $4,400 of taxes withheld by his employer. What are Jamison's taxes due (or taxes refunded) with his tax return?

Answer 1

Answer:

The answer is: Jamison has $175 in taxes due.

Explanation:

To determine the amount of taxes that Jamison still has to pay, we can use the following formula:

Taxes due = tax liability - (taxes withheld by employer + tax credits)

Taxes due = $7,200 - ($4,400 + $2,625) = $7,200 - $7,025 = $175

Jamison has $175 in taxes due.