Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2021 Table for Amount Exempt for Tax Levy (Single Person) Filing Status: Single Pay Period Number of Dependents Claimed on Statement 0 1 2 3

2021 Table for Amount Exempt for Tax Levy (Single Person) Filing Status: Single Pay Period Number of Dependents Claimed on Statement 0 1 2 3 4 5 More Than 5 Daily 48.27 64.81 81.35 97.89 114.43 130.97 48.27 plus 16.54 for each dependent Weekly 241.35 324.04 406.73 489.42 572.11 654.80 241.35 plus 82.69 for each dependent Biweekly 482.69 648.07 813.45 978.83 1144.21 1309.59 482.69 plus 165.38 for each dependent Semimonthly 522.92 702.09 881.26 1060.43 1239.60 1418.77 522.92 plus 179.17 for each dependent Monthly 1045.83 1404.16 1762.49 2120.82 2479.15 2837.48 1045.83 plus 358.33 for each dependent Source: Internal Revenue Service. Carson Holiday has a federal tax levy of $4,128.50 against him. If Holiday is single with four dependents and had a take-home pay of $1,250.00 this week, how much would his employer take from his pay to satisfy part of the tax levy?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions