Question

Harry and helen are married, filing jointly. Their combined taxable income is $65,922. Every week, a total of $187 is withheld from their pay. Based on the table below, what can harry and helen expect when their taxes are due? a. Harry and helen will owe an additional $193. B. Harry and helen will owe an additional $3,104. C. Harry and helen will receive a refund of $724. D. Harry and helen will receive a refund of $555.

Answer 1

Answer:

D. Harry and Helen will receive a refund of $555.

Explanation:

Due Tax Liability = Total Tax Liability - Total Withheld Amount

                           =Total Tax Liability ( Weekly Withheld Amount x Number of weeks in a year)

Answer 2

What Harry and Helen will expect when their taxes are due is a refund of $555. That is option D.

What is the due tax of the couple?

Combined taxable income of the couple= $65,922/week.

The amount withheld in a week = $187

The tax liability of married couple filing jointly= $9,169.

The due tax= Total tax liability- total withheld amount.

Due tax = Total tax liability-( weekly withheld amount × number of weeks in a year)

Due tax = $9,169 - ($187× 52)

= $9,169- $9,724

= - $555

Therefore, what Harry and Helen will expect when their taxes are due is a refund of $555.

Learn more about tax liability here:

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