Calculate their total tax as well as the child tax credit that they can claim for the 20202020

The Kigali's are married and file a joint return. Their AGI (earned income) was $15,410 and federal income tax withholding was $930. They had no itemized deductions and two dependent children, ages 18 and 19. Required: If the Kigali are entitled to a $4,732 earned income credit, compute their income tax refund. Assume the taxable year is 2022. Use Standard Deduction Table. Tax Refund

a. Bristol, who is single, has AMTI of $737,200. Her AMT exemption is $ b. Marley and Naila are married and file a joint tax return. Their AMTI is $ 1,226,400. Their AMT exemption is $

Determine the taxable amount of social security benefits for the following situations. If an amount is zero, enter "$0".a. Erwin and Eleanor are married and file a joint tax return. They have adjusted gross income of $36,000, no tax-exempt interest, and $12,400 of Social Security benefits. As a result, $ of the Social Security benefits are taxable.b. Assume Erwin and Eleanor have adjusted gross income of $12,000, no tax-exempt interest, and $16,000 of Social Security benefits. As a result, $ of the Social Security benefits are taxable.c. Assume Erwin and Eleanor have adjusted gross income of $85,000, no tax-exempt interest, and $15,000 of Social Security benefits. As a result, $ of the Social Security benefits are taxable.

he Tax Formula for Individuals, Filing Status and Tax Computation, The Standard Deduction (LO 1.3, 1.5, 1.8) Marco and Tatiana are married and file separate returns for 2020. Tatiana itemizes her deductions on her return. Marco's adjusted gross income was $18,000, his itemized deductions were $2,400. Neither have any dependents. Table for the standard deduction Filing Status Standard Deduction Single $12,400   Married, filing jointly 24,800   Married, filing separately 12,400   Head of household 18,650   Qualifying widow(er) 24,800   Click here to access the tax tables. Calculate Marco's income tax liability assuming the couple does not live in a community property state.

Jordan and Alex are married with 3 children. They have W2 income, and they have almost completed their taxes for the year. They have chosen the standard deduction, they know that their tax owed on line 16 of the 2022 1040 form shows $23,906.62. They have $4,861.28 available to use. What amount will they have to pay to the IRS when they file their 1040 form?

David and Lilly Fernandez have determined their tax liability on their joint tax return to be $3,100. They have made prepayments of $1,900 and also have a child tax credit of $2,000. What is the amount of their tax refund or taxes due?

Susan and Stan Britton are a married couple who file a joint income tax return, where the tax rates are based on the tax table 3.5. Assume that their taxable income this year was $320,000. Do not round Intermediate calculation. a. What is their federal tax liability? Round your answer to the nearest dollar. $ b. What is their marginal tax rate? Round your answer to the nearest whole number. % c. What is their average tax rate? Round your answer to two decimal places. %

Xavier and his wife Maria have total W-2 income of $95,102. They will file their tax return as married filing jointly. They had a total of $7,910 withheld from their paychecks for federal income tax. Using the 22% from the tax table, Indicate whether the amount is a refund or additional tax.

Taxpayers are allowed two tax breaks for adoption expenses. They are allowed: Qualified Expenses Paid personally Paid by employer a. Exclusion Exclusion Exclusion Credit Oc. Credit Exclusion Od. Credit Credit