They also qualified for a $3,600 child tax credit. Their employers withheld $5,800 in federal...
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They also qualified for a $3,600 child tax credit. Their employers withheld $5,800 in federal income taxes from their paychecks (in the aggregate). Finally, the 2021 standard deduction amount for MFJ taxpayers is $25,100. What is the couple's tax due or tax refund? (Use the tax rate schedule below) Use the following format for all your answers: \$1,234 or ($1,234) 1. What is their recognized Gross income? 2. What is their AG1 ? 3. What is their taxable income? 4. What is their tax liability? 5. What is their (tax refund)/tax due? They also qualified for a $3,600 child tax credit. Their employers withheld $5,800 in federal income taxes from their paychecks (in the aggregate). Finally, the 2021 standard deduction amount for MFJ taxpayers is $25,100. What is the couple's tax due or tax refund? (Use the tax rate schedule below) Use the following format for all your answers: \$1,234 or ($1,234) 1. What is their recognized Gross income? 2. What is their AG1 ? 3. What is their taxable income? 4. What is their tax liability? 5. What is their (tax refund)/tax due
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