Question
23.John Woods' weekly gross earnings for the present week were $2,500. Woods has two exemptions. Single person (including head of household) If amount of wages
23.John Woods' weekly gross earnings for the present week were $2,500. Woods has two exemptions. Single person (including head of household) If amount of wages (after subtracting withholding allowance) is: The amount of income tax withholding is: of excess over: Not over $51 $0 Over- But not over- of excess over - $51 -$192.......10% -$51 $192 -$620.......$14.10 plus 15% -$192 $620 -$1,409....$78.30 plus 25% -$620 $1,409 -$3,013....$275.55 plus 28% -$1,409 $3,013 -$6,508....$724.67 plus 33% -$3,013 $6,508 .................$1,878.02 plus 35% -$6,508 Using $80 value for each exemption and the tax rate schedule above, what is Woods federal income tax withholding? Round your answer to two decimal places.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started