Kumar Panday must pay an additional $1,330 in taxes beyond what was already withheld from his paychecks, as his total tax liability was $17,448 and he had $16,118 withheld throughout the year.
Kumar Panday paid $16,118 in federal withholding, and his total tax shown on his tax return was $17,448. To calculate the tax he owed, we subtract the federal withholding from the total tax. So, the amount of tax Kumar owes is $17,448 - $16,118, which equals $1,330. Kumar Panday owed $1,330 in taxes after accounting for his federal withholding.
When determining the amount of tax owed, it is necessary to take into account the total tax liability shown on the tax return and subtract any federal tax withholdings already made throughout the year. Kumar's tax return shows a total tax liability of $17,448. Throughout the year, his employer withheld $16,118 as federal withholding tax from his paychecks. To find the remaining amount he owes to the government, we subtract the withholdings from the total tax. Therefore, Kumar's additional tax payment required to settle his total tax liability is $1,330.
After subtracting federal withholding from the total tax shown on his return, Kumar Panday owes an additional $1,330 in federal income taxes.