Sheri's only source of income for the year is a salary of" $40,000. She is not married and has three dependent children who are not eligible for the child tax credit. Sheri's tax liability is $1,795 before any credits or prepayments are applied. She had $2,000 withheld from her salary. After applying the earned income credit, what is the amount of Sheri's refund?

Question

Lia

Business

28 May, 19:33

Sheri's only source of income for the year is a salary of" $40,000. She is not married and has three dependent children who are not eligible for the child tax credit. Sheri's tax liability is $1,795 before any credits or prepayments are applied. She had $2,000 withheld from her salary. After applying the earned income credit, what is the amount of Sheri's refund?

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Answers (1)

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Tyrese · Answer 1

We have the following dа ta:

Explanation:

Sheri's salary $ 40.000 for the year

Sheri's tax liability is $1,795

Sheri had Withheld $ 2.000

Amount refund = ? What we need to know!

We make the next operation to get the amount refund

$1,837.21.06% x (40,000-18110) = 4,610. Max credit

$6242 - $1632 + 205 overpayment