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Pedro and Paola are married and file their taxes jointly.Paola's taxable income was $40,675 and Pedro's was $32.802.Paola's employer withheld $4,654 in federal taxes.Pedro's employer withheld $4,345 Will they get a refund or do they owe?(WWrite "refund" or 'owe" as your answer.) how much?

Sagot :

i. Paola's taxable income is $40,675.

From the table, as she is married but filing taxes jointly, her withheld tax should be,

[tex]\text{ \$4486}[/tex]

But she had $4,654 withheld.

Therefore, Paola would be getting a refund of $4654 - $4486 = $168

ii. Pedro's taxable income however is $38,802

From the table, since he is married and files taxes jointly, his withheld tax should be,

[tex]\text{ \$3544}[/tex]

But he had $4345 withheld.

Therefore, Pedro would be getting a refund of $4345 - $3544 = $801

Answer:

Both Paola and Pedro would get refunds.

Paola would get $168 while Pedro would get $801

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