Question

Help please


2. Explain how you would determine if you owed the federal government money or if you would receive a refund.
3. Explain how you would calculate the amount of your payment to the government or the amount of your refund. Provide the solution.
4. Change the number of personal allowances that you made at the beginning of this activity. Provide the following information to your instructor:
your new federal withholding
the new amount of your refund from the government or balance owed to the government
an explanation on why changing your personal allowances will increase or dec

Answer 1

rease the amount of taxes you must pay or the amount of a refund you will receive.
5. After calculating the amount of money you must pay to the government or receive as a refund, would you reconsider how many personal allowances you claimed on the W-4? Why or why not?

Answer 2

Welcome to Openstudy!!
will not be here long but in order to get the most help you need to post all of the problem.
Here you are missing 1) and the information needed to answer the questions.

you owe the govt money when the taxes on the adjusted gross income (gross income less the deductions) is more than what was paid to the govt in taxes throughout the year.
You get a refund if the tax due is less than the taxes paid already and you have no outstanding obligations for which they can intercept your refund.

Answer 3

1. Provide the number of allowances and amount of federal withholding you claimed at the beginning of the activity. Explain why you claimed this number of allowances.

2
$4,182.88

Answer 4

@triciaal