Answered: For the following taxpayers, determine…

For the following taxpayers, determine if they are required to file a tax return in 2023. Problem 8-80 Part a (Algo) a. Ricko, single taxpayer, with gross income of $15,800.

SWFT Individual Income Taxes

43rd Edition

ISBN:9780357391365

Author:YOUNG

Publisher:YOUNG

Chapter12: Alternative Minimum Tax

Section: Chapter Questions

Problem 19CE

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Concept explainers

Fringe Benefit Tax

Fringe benefits are in addition to the compensation that companies give to their employees. It is an additional benefit above the stated salary. It helps to keep the employees of the firm motivated as sometimes the only salary is not enough to retain the quality employees of the firm. There are different types of fringe benefits. Fringe benefits are given in both private as well as public enterprises.

Question

For the following taxpayers, determine if they are required to file a tax return in 2023.
Problem 8-80 Part a (Algo)
a. Ricko, single taxpayer, with gross income of $15,800.

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