Michael files Head of Household. He has two children, who are ages 14 and 16 at the end of the current tax year (both are qualifying dependents). His taxable income is $60,000 and his tax liability before any payments or credits is $7,548. His employer has withheld $5,000 in federal income taxes from his paycheck.

What is Michaels tax due or refund? Be sure to consider all possible credits based on the information above?

Assume if the older child is 18 instead of 16. What is Michaels tax due or refund? Once again, be sure to consider all possible credits based on the information available to you.