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Mr. Porter’s gross pay is $90,000 per year. He files taxes as head of a household, and his income tax percentage is 20%, so that is withheld from his paycheck. When he files his taxes, he owes $16,800 after deductions. Which of the following is true?
Mr. Porter will owe $1,200 in federal taxes.
Mr. Porter will owe $351 in federal taxes.
Mr. Porter will get a refund of $1,200.
Mr. Porter will get a refund of $351.

Respuesta :

Answer:Answer is C. He will get a refund of 1200.

Explanation:

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If Mr. Porter’s gross pay is $90,000 per year. He files taxes as head of a household, and his income tax percentage is 20%, so that is withheld from his paycheck. When he files his taxes, he owes $16,800 after deductions. Mr. Porter will get a refund of $1,200.

Given,

Gross pay       = $90,000,

Income tax % = 20%

owes after deductions = $16,800.

Calculation:

In[$]:

[tex]\text= Income\ Tax = \text Income\times Income Percentage.\\&=90,000\times\dfrac{20}{100.} \\&=18,000.[/tex]

Then, porter will get the refund of:

[tex]\text= Income\ tax-amount \ owed\\&= 18,000-16,800\\&=1,200.[/tex]

Therefore, porter will get the refund of $1200.

learn more about Income Tax refer:

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