The Commerce Journal,Business and Local Businesses
*The Commerce Journal>>>United States Taxes

What is the possible reason that he has a balance due?


Steve is single with no children. After you complete his return, you tell him that he owes money.
What is the possible reason that he has a balance due?
a. Steve had too little tax withheld from his paychecks
b. Steve was self-employed and received several Forms 1099-MISC
c. Steve received Advanced Earned Income Credit on one of his jobs
d. Steve had large gambling winnings
e. All of the above

The answer is E but whats are we doing here? your homework? Taking a test for you? Whatsup

All of the above

a.

C'Mon, no help on homework. These people are trying to pass courses to eventually do other people's taxes. When they are professionals, they won't be able to get help online, so WHY would anyone help them now?

We won't do your homework for you. Giving you an answer outright serves no purpose for you as you won't learn the rationale behind the answer. And keep in mind that there are plenty of clueless folks here who will answer your question how they THINK things should be, not based upon the actual law or rules behind the correct answer.

If you're stuck on something, post the problem and what you think the correct answer is and WHY you think it is correct. We'll then be more than happy to critique your logic in order to help you LEARN your objectives properly.

Tags
  Austin   Atlanta   Other - Business & Finance   Other Taxes   United States Taxes   United Kingdom Taxes   Spain Taxes   Singapore Taxes   Mexico Taxes   Ireland Taxes   India Taxes
Related information
  • On a payroll register sheet, it has " taxable earnings", " unemploy. comp. and soc. sec. what doesit mean?

    Sounds like you are asking what the earnings amounts of these taxes are. Taxable earnings apply to all taxes and the earnings are the compensation you make that is applicable to those taxes. Differ...

  • Tax question..My ex wife and I have joint custody...Who gets to claim the kids on their taxes?

    Whoever the child actually stays with for over half the nights of the year is considered the custodial parent by the IRS, and gets to claim them unless there's a court order that specifies oth...

  • What is the difference between a first a second borrower on a mortgage loan (regarding tax)?

    Assuming that both people are on title to the residence, who ever writes the check gets to take the deduction. If you are ever audited on mortgage interest, the IRS will want to see checks to suppo...

  • Will I still get my tax refund?

    You can protect your share of any refund on a joint return by filing Form 8379 with your tax return. Expect the processing of any refund to be delayed for several weeks, however. You can avoid ...

  • Taxes - Partial Deductions?

    A partial deduction is one that is limited to a portion of your AGI. Medical deductions subject to a 7.5% AGI are an example, as are charitable donations which are generally subject to a 50% AGI c...

  • How do I get my mom to stop claiming me on her taxes?

    Tell your mom you are filing taxes & claiming yourself & suggest that she not claim you because if the IRS audits you both, she will lose the deduction and have to pay back taxes, interest...

  • Are IRA's roth and traditional 100% tax defered? Are there different rates of returns for IRA's?

    "Tax deferred" means that you don't pay taxes each year while the IRA is invested and grows. A traditional IRA is both tax deductible and tax deferred. If eligible, the money put...

  • What is the process regarding W-2 forms when taxes are witheld?

    Yep. You'll get a W-2, probably around the middle of January. It will list the name of your employer, the amount of wages you earned, which will be gross wages, the amount of FICA withheld, ...

  •  

    Commerce Categories--Copyright/IP Policy--Contact Webmaster