Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Jamarcus, a full-time student, earned $3,650 this year from a summer job. He had no other income this year and will have zero federal income

image text in transcribed

Jamarcus, a full-time student, earned $3,650 this year from a summer job. He had no other income this year and will have zero federal income tax liability this year. His employer withheld $438 of federal income tax from his summer pay. Is Jamarcus required to file a tax return? Should Jamarcus file a tax return? Jamarcus is required to file an income tax return regardless of income and should file a tax return. O Jamarcus should compulsorily file a tax return because his gross income of $3,650 is well below the gross income threshold for a single taxpayer. Jamarcus is not required to file a tax return as the refund of $438 previously withheld will be automatically credited to his bank account. O Jamarcus is not required to file an income tax return because his gross income of $3,650 is well below the gross income threshold for a single taxpayer. He should still file a tax return to receive a refund of the $438 previously withheld

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Eco Management And Auditing A Practical Guide To EC Regulations

Authors: Joseph Tanega

1st Edition

1859070094, 978-1859070093

More Books

Students also viewed these Accounting questions

Question

1. Describe the factors that lead to productive conflict

Answered: 1 week ago