Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Allison is paid $2,730 per week. What is the amount of federal Income tax withheld from Allison's paycheck under the following conditions? Assume that Allison

image text in transcribedimage text in transcribed

Allison is paid $2,730 per week. What is the amount of federal Income tax withheld from Allison's paycheck under the following conditions? Assume that Allison has only one job or that step 2 of Form W-4 is not checked. Also, her employer uses the Percentage Method Tables for Automated Systems. Use percentage method tables for automated systems. Required: a. Allison is single and no dependents. b. Allison is married (her spouse does not work) and claims two dependents who are under the age of 17. c. Allison is single, claims no dependents, but wants $70 In additional withholding. (For all requirements, round your intermediate computations and final answers to 2 decimal places.) Amount a Federal income tax withholdings b. Federal income tax withholdings C. Federal income tax withholdings 37% 2020 Percentage Method Tables for Automated Payroll Systems STANDARD Withholding Rate Schedules Form W-4, Step 2, Checkbox, Withholding Rate Schedules (Use these if the Form W-4 is from 2019 or earlier, or if the Form W-4 is (Use these if the Form W-4 is from 2020 or later and the box in Step 2 of from 2020 or later and the box in Step 2 of Form W-4 is NOT checked) Form W-4 IS checked) If the Adjusted Annual Wage of the amount If the Adjusted Annual Wage of the amount Amount (line 2a) is: that the that the Amount (line 2a) is: The tentative Adjusted The tentative Adjusted But less than amount to Plus this Annual Wage But less than amount to Plus this Annual Wage At least- withhold is: percentage- exceeds- At least- withhold is: percentage exceeds- A B C D E A B c D E Married Filling Jointly Married Filling Jointly SO $ 11,900 $ 0.00 0% $0 $0 $ 12,400 $ 0.00 0% $0 $ 11,900 $ 31,650 $ 0.00 10% $ 11,900 $ 12.400 $ 22.275 $ 0.00 10% $ 12,400 $ 31,650 $ 92,150 $ 1,975.00 12% $ 31,650 $ 22,275 $ 52,525 $ 987.50 12% $ 22,275 $ 92,150 $ 182,950 $ 9.235.00 22% $ 92,150 $ 52,525 $ 97.925 $ 4.617.50 22% $ 52,525 $ 182.950 $ 338,500 $ 29.211.00 24% $ 182.950 $ 97.925 $ 175,700 $ 14.605.50 24% $ 97,925 $ 338,500 $ 426,600 $ 66,543.00 32% $ 338,500 $ 175,700 $ 219,750 $ 33.271.50 32% $ 175,700 $ 426,600 $ 633,950 $ 94,735.00 35% $ 426,600 $ 219,750 $ 323,425 $ 47,367.50 35% $ 219.750 $ 633,950 $ 167,307.50 37% $ 633,950 $ 323.425 $ 83,653.75 $ 323.425 Single or Married Filling Separately Single or Married Filling Separately $0 $ 3,800 $ 0.00 0% $0 $0 $ 6.200 $ 0.00 0% $0 $ 3,800 $ 13,675 $ 0.00 10% $ 3,800 $ 6,200 $ 11,138 $ 0.00 10% $ 6.200 $ 13,675 $ 43,925 $ 987.50 12% $ 13,675 $ 11,138 $ 26,263 $ 493.75 12% $ 11,138 $ 43,925 $ 89,325 $ 4,617.50 22% $ 43.925 $ 26,263 $ 48,963 $ 2.308.75 22% $ 26,263 $ 89,325 $ 167,100 $ 14,605.50 24% $ 89,325 $ 48,963 $ 87,850 $ 7,302.75 24% $ 48,963 $ 167,100 $ 211,150 $ 33,271.50 32% $ 167,100 $ 87,850 $ 109,875 $ 16,635.75 32% $ 87,850 $ 211,150 $ 522.200 $ 47,367.50 35% $ 211,150 $ 109,875 $ 265,400 $ 23,683.75 35% $ 109.875 $ 522,200 $ 156,235.00 37% $ 522,200 $ 265,400 $ 78.117.50 37% $ 265,400 Head of Household Head of Household SO $ 10,050 $ 0.00 0% $0 $0 $ 9,325 $ 0.00 0% $0 $ 10,050 $ 24,150 $ 0.00 10% $ 10,050 $ 9,325 $ 16,375 $ 0.00 10% $ 9.325 $ 24,150 $ 63,750 $ 1.410.00 12% $ 24,150 $ 16,375 $ 36,175 $ 705.00 12% $ 16,375 $ 63,750 $ 95,550 $ 6.162.00 22% $ 63,750 $ 36.175 $ 52.075 $ 3,081.00 22% $ 36.175 $ 95,550 $ 173,350 $ 13,158.00 24% $ 95,550 $ 52,075 $ 90,975 $ 6,579.00 24% $ 52.075 $ 173,350 $ 217,400 $ 31,830.00 32% $ 173,350 $ 90,975 $ 113,000 $ 15,915.00 32% $ 90,975 $ 217,400 $ 528,450 $ 45,926.00 35% $ 217,400 $ 113,000 $ 268,525 $ 22.963.00 35% $ 113,000 $ 528,450 $ 154,793.50 37% $ 528,450 $ 268,525 $ 77,396.75 37% $ 268,525

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_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

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

Get Started

Recommended Textbook for

Principles Of Accounting Volume 2 Managerial Accounting

Authors: OpenStax

1st Edition

0357364805, 9780357364802

More Books

Students also viewed these Accounting questions