Based on the following data, would Beth and Roger Simmons receive a refund or owe additional taxes? What is the amount? (Dina round any intermediate calculations. Enter the amount as a positive value rounded to 2 decimal places.) Adjusted gross income Credit for child and dependent care expenses The result is a refund of $ 56,520 $ 780 Standard deduction Federal Income tax withheld Tax rate on taxable income $ 24,000 $ 7,346 15 percent

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Fringe Benefit Tax

Fringe benefits are in addition to the compensation that companies give to their employees. It is an additional benefit above the stated salary. It helps to keep the employees of the firm motivated as sometimes the only salary is not enough to retain the quality employees of the firm. There are different types of fringe benefits. Fringe benefits are given in both private as well as public enterprises.