Short Answer
Edgar, Melinda, and Marcus receive tax refunds, with amounts of $336, $501, and $6,896 respectively, indicating overpayments in taxes. In contrast, Borris owes $1,741, highlighting the need for better withholding practices to avoid tax liabilities.
Step 1: Understand the Refunds
Edgar, Melinda, and Marcus will receive tax refunds, which represent the amounts they overpaid in taxes over the year. A refund indicates that these taxpayers have provided more money to the government than necessary.
- Edgar’s refund: $336
- Melinda’s refund: $501
- Marcus’s refund: $6,896
Step 2: Analyze Marcus’s Situation
Among the individuals receiving refunds, Marcus’s situation stands out due to the substantially larger amount he’s getting back. A refund of $6,896 indicates a significant overpayment and could be due to various factors such as changes in income or withholding practices.
Step 3: Borris’s Tax Obligation
In contrast, Borris owes $1,741 in taxes. This implies that he did not withhold enough money from his paycheck throughout the year, resulting in a tax liability he must settle. Understanding this difference is vital for effective tax planning in the future.