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12 November, 19:26

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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  1. 12 November, 23:15
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    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.
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