A person completes her federal 1040EZ form and sees that she paid total quarterly estimated taxes of $12,000. But the calculations show that she should have paid only $9,500 in taxes. What will happen if she sends the IRS this completed form with the necessary supporting documents

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sanchezhailey7702 sanchezhailey7702

10-06-2022
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A person completes her federal 1040EZ form and sees that she paid total quarterly estimated taxes of $12,000. But the calculations show that she should have paid only $9,500 in taxes. What will happen if she sends the IRS this completed form with the necessary supporting documents

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abiolataiwo2015 abiolataiwo2015 · Answer 1 · 2022-06-14T18:57:57+02:00

What will happen if she sends the IRS this completed form with the necessary supporting documents is: They will receive a federal tax refund of $2,500.

What is 1040EZ form?

1040EZ form is a form which a tax payable is expected to fill but this form is less complex compare to 1040 form as only few important details of the taxpayer is expected to be fill out in the form.

Hence what will happen if she sends the IRS the completed form is:

Federal tax refund=Total quarterly estimated form-Tax amount

Federal tax refund=$12,000-$9,500

Federal tax refund=$2,500

Therefore they will receive a federal tax refund of $2,500.

Learn more about 1040EZ form here:https://brainly.com/question/1396478

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