Tiffany is unmarried and has a 15-year-old qualifying child. Tiffany has determined her tax liability to be $3,525, and her employer has withheld $1,500 of federal taxes from her paycheck. Tiffany is allowed to claim a $2,000 child tax credit for her qualifying child. What amount of taxes will Tiffany owe (or what amount will she receive as a refund) when she files her tax return?

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Business

Ayanna Buchanan

22 February, 15:25

Tiffany is unmarried and has a 15-year-old qualifying child. Tiffany has determined her tax liability to be $3,525, and her employer has withheld $1,500 of federal taxes from her paycheck. Tiffany is allowed to claim a $2,000 child tax credit for her qualifying child. What amount of taxes will Tiffany owe (or what amount will she receive as a refund) when she files her tax return?

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Marc Henderson · Answer 1

Answer: $500 out of her paycheck

And $1525 out of the amount of her determination.

Explanation: out of the $2000 tax claim she has, if she files a tax return then $2000-$1500=$500 will be paid to her. That is $500 will be returned out of her paycheck amount.

But out of the amount of tax liability she determined to have it will be $3,525-$2000=$1525. As a determined amount