What will be the end result for the taxpayer who filed his federal income tax return using the 1040EZ form shown below?
Payments,
Credits,
and Tax
7 Federal income tax withheld from Fom(s) W-2 and 1099.
73348 00
8 Making work pay credit (see worksheet on back).
8 40000
9a Earned Income credit (EIC) (see page 13).
9a
00
b Nontaxable combat pay election,
9b
0 00
10 Add lines 7.8, and 9a. These are your total payments and credits.
10 3748 00
11 Tax. Use the amount on line 6 above to find your tax in the tax table on pages 27
through 35 of the instructions. Then, enter the tax from the table on this line
11 3921 00
12a If line 10 is larger than line 11, subtract line 11 from line 10. This is your refond.
If Form 8888 is attached, check here
12a
b Routing number
e Type: Checking Sarings
Refund
Have directly
deposited! See
page 18 and fill in
125, 126,
and 12d or
Fom 8888
Amount
you owe
d Account number
13
If line 11 is larger than line 10. subtract line 10 from line 11. This is
the amount you owe. For details on how to pay, see page 19.
►
13
A. He will receive a refund of $3921.
O B. He will owe $3921.
C. He will owe $173.
D. He will receive a refund of $173.