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AnswersFL-2102371-Personal Finance and Money Management - Teacher Directed ResourceTax Returns

Tax Returns Answers

3 verified answers3 views
1
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Which of the following is not a benefit of the transmission portion of filing taxes electronically?

A
Faster refunds
B
Electronic acknowledgement
C
Increased accuracy
D
Paperless
2
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Keisha is single, has a taxable income of $122,125, and their employer has deducted $21,940 in withholding taxes for the year. According to the IRS, Keisha owes $21,200. Find Keisha’s tax refund or amount owed.

A
Refund, $740
B
Owed, $740
C
Refund, $100,925
D
Owed, $1,740
3

What is subtracted from the adjusted gross income to obtain the taxable income? Select two that apply.AdjustmentsDeductionsCommissionsExemptionsTips and wages

A
Adjustments
B
Deductions
C
Commissions
D
Exemptions
E
Tips and wages

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