Explore Westonci.ca, the premier Q&A site that helps you find precise answers to your questions, no matter the topic. Join our Q&A platform and connect with professionals ready to provide precise answers to your questions in various areas. Get precise and detailed answers to your questions from a knowledgeable community of experts on our Q&A platform.

alyssa is a single mother. based on her agi and number of children, her earned income credit is $4,215. her taxable income is $25,000, and the resulting tax is $2,718. which of the following statements best describes alyssa's tax position? multiple choice question. alyssa will owe no federal income tax in the current year. alyssa will owe no federal income tax this year and may use the $1,497 credit in a future year when she has a tax liability. alyssa will owe no federal income tax and will receive a $1,497 refund attributable to the earned income credit.

Sagot :

Based on the information provided, it appears that Alyssa will owe no federal income tax in the current year and will receive a $1,497 refund attributable to the earned income credit. This makes the last option hold true.

This is because her taxable income of $25,000 is less than she earned income credit of $4,215, resulting in a negative tax liability. In this case, the negative tax liability is offset by the earned income credit, resulting in a tax refund for Alyssa. It is also worth noting that the earned income credit is a nonrefundable tax credit, which means that Alyssa will not be able to carry it forward to use in a future year when she has a tax liability.

Learn more about Income tax here:

https://brainly.com/question/26316390

#SPJ4

Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. Thank you for your visit. We're committed to providing you with the best information available. Return anytime for more. We're glad you chose Westonci.ca. Revisit us for updated answers from our knowledgeable team.