Madison's gross tax liability is $13,200. Madison had $4,200 of tax credits available and she had $10,450 of taxes withheld by her employer. What are Madison's taxes due (or taxes refunded)with her tax return?

Question

Quizplus · Accepted Answer

Madison's total credits and taxes withheld add up to $14,650 ($4,200 + $10,450). This means she has overpaid her taxes by $1,450 ($14,650 - $13,200). Therefore, Madison will receive a tax refund of $1,450.

Madison's Gross Tax Liability Is $13,200