Question

Martin’s gross pay is $30,135 per year. His federal income tax percent that is withheld from his paycheck is 15%. The amount of money that he owes the government after federal deductions is $4,150. Which of the following is true? Martin owes about $4,520 in federal taxes. Martin owes about $370 in federal taxes. Martin will get a refund of about $3,899. Martin will get a refund of about $370.

Answer 1

Martin will get a refund of about $370

Answer 2

Martin will get a refund of about $370.

Explanation:

The gross pay of Martin = $30135

The federal income tax percent that is withheld from his paycheck is 15%, this becomes =
`0.15*30135=4520.25`

As given, he owes the government after federal deductions is $4,150.

So, amount that exceeds this amount =
`4250.25-4150=370.25`

Means, this $370.25 is to be refunded to Martin.

Hence, the true option is Martin will get a refund of about $370.