Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Morgan is paid $2,815.50 per week. What is the amount of federal income tax withheld from Morgan's paycheck under the following conditions? Assume that Morgan

image text in transcribed
image text in transcribed
Morgan is paid $2,815.50 per week. What is the amount of federal income tax withheld from Morgan's paycheck under the following conditions? Assume that Morgan 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. Morgan is single and no dependents. b. Morgan is married (spouse does not work) and claims two dependents who are under the age of 17. c. Morgan is single, claims no dependents, but wants $50 in additional withholding. Note: For all requirements, round your intermediate computations and final answers to 2 decimal places. \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|} \hline \multirow{2}{*}{\multicolumn{5}{|c|}{\begin{tabular}{l} 2022 Percentage Method Tables for Automated Payroll Systems a \\ STANDARD Withhelding Rate Schedules \\ (Use these if the Form W-4 is from 2019 or earlier, of if the Form W-4 is \\ on 2020 or later and the bos in Step 2 of Form W-4 is NOT checked. Also use these for \\ Form W-4P from any year.) \end{tabular}}} & 1 Withholdin & & & Annuities & \\ \hline & & & & & \multicolumn{5}{|c|}{\begin{tabular}{l} Anolding en Periodic Payments of Pensions and Annuities \\ Form W-4, Step 2, Checkbox, Withholding Rate Sebedules \\ (Use these if the Form W.4 is from 2020 or later and the box in Step 2 of \\ Form W.4 iS checked) \end{tabular}} \\ \hline \multicolumn{2}{|c|}{\begin{tabular}{l} If the Adjusted Annual Wage \\ Amount on Worksheet 1A or the \\ Adjusted Annoal Payment \\ Amount on Worksheet 1B is: \end{tabular}} & \multirow{2}{*}{\begin{tabular}{l} The tentative \\ amount to \\ withhold is: \end{tabular}} & \multirow[b]{2}{*}{\begin{tabular}{l} Mus this \\ percentage- \end{tabular}} & \multirow{2}{*}{\begin{tabular}{l} of the amount \\ that the \\ Adjusted \\ Annual Wage \\ or Payment \\ excerds- \end{tabular}} & \multicolumn{2}{|c|}{\begin{tabular}{l} If the Adjusted Annual Wage \\ Amount on Worksheet iA is: \end{tabular}} & \multirow{2}{*}{\begin{tabular}{l} The teatative \\ amount to \\ withhold ist \end{tabular}} & \multirow[b]{2}{*}{\begin{tabular}{l} Plus this \\ percentage- \end{tabular}} & \multirow{2}{*}{\begin{tabular}{l} of the amount \\ that the \\ Adjusted \\ Annual Wage \\ excreds- \end{tabular}} \\ \hline At least- & But less than & & & & At least - & \begin{tabular}{l} But less than \\ - \end{tabular} & & & \\ \hline A & B & C & D & E & A & B & C & D & E \\ \hline \multicolumn{5}{|c|}{ Married Filling Jointly } & \multicolumn{5}{|c|}{ Married Filling Jointly } \\ \hline 50 & $13.000 & 50.00 & 0% & 50 & 50 & $12,950 & 5000 & 08 & 50 \\ \hline$13,000 & $33550 & 5000 & 10% & $13,000 & 512950 & $23.225 & 50.00 & 10% & 512,950 \\ \hline$33550 & 59550 & 5205500 & 12% & $33.550 & $23225 & $54,725 & 51.02750 & 12% & 523225 \\ \hline$95580 & 5191.150 & 59.615 .00 & 22% & 596.550 & 554.725 & 5102025 & $4.80750 & 22% & 554,725 \\ \hline$191,150 & $353.100 & 530.427 .00 & 24% & $191,150 & 5102.025 & $183,000 & $15,21350 & 24% & $102,025 \\ \hline$353,100 & $444,900 & $6929500 & 32% & $353,100 & 5183,000 & $228.900 & $34.64750 & 32% & $183,000 \\ \hline$444900 & 5660850 & $98,671.00 & 35% & $444,900 & $228,900 & 5336.875 & 54933550 & 35% & 5228900 \\ \hline 5660550 & & $174,25350 & 37% & $660850 & 5336.875 & & $87.12675 & 37% & 5336.875 \\ \hline \multicolumn{5}{|c|}{ Single or Married Fillieg Separately } & \multicolumn{5}{|c|}{ Single or Married Filling Separately } \\ \hline 50 & $4,350 & 50.00 & 0s & $0 & 50 & 56,475 & $0.00 & 0% & $0 \\ \hline 54350 & 514,625 & 50.00 & 10% & 5.,350 & 56,475 & $11,513 & 5000 & 10% & $6,475 \\ \hline 514,625 & $46.125 & $1002750 & 12% & 514,625 & $11.613 & $27363 & 5513.75 & 12% & 511.613 \\ \hline 546,125 & 593,425 & 540750 & 22% & 546,125 & 527363 & $51013 & $2,40,3,75 & 22% & 527,363 \\ \hline 593,425 & 5174,400 & 5,15,21350 & 24% & 593,425 & 551.013 & 591500 & 57606.75 & 24% & 551,013 \\ \hline 5174A00 & 5220,300 & 53464750 & 32 & $174,400 & $91500 & 5114,450 & 517,323,75 & 32% & 591500 \\ \hline 52200300 & 5544.250 & $49,33550 & 35% & $220,300 & 5114,450 & $276.425 & 524,667.75 & 35% & 5114A50 \\ \hline$544250 & & $162,718,00 & 37% & 5544250 & 5276,A75 & & 581.35900 & 37% & $276.425 \\ \hline \multicolumn{5}{|c|}{ Ilead of Houschold } & \multicolumn{5}{|c|}{ Head of llousehoid } \\ \hline 50 & 51000 & $000 & 0% & 50 & 50 & 59.700 & 5000 & 0% & 50 \\ \hline 510.800 & 525,450 & 5000 & 10% & 51050 & 59,700 & 517025 & 5000 & 10% & 59.700 \\ \hline$25,450 & 566,700 & $1.465.00 & 12% & 525490 & 517025 & 537,650 & 573250 & 12% & 517025 \\ \hline 566,700 & 599850 & 56.415 .00 & 224 & 566,700 & 537,650 & 554,225 & 53,20750 & 22% & 537.650 \\ \hline 59950 & 518050 & 513,20800 & 24% & 59980 & 534,225 & 594,725 & 56.85400 & 24% & 554,225 \\ \hline 516050 & 3226,750 & 533,14800 & 322 & 516050 & 594,725 & 5117.675 & 51657400 & 32% & 594,725 \\ \hline 5226,750 & 5550,700 & 547.83600 & 35% & 5226,750 & 5117675 & $279690 & $2391800 & 35% & 5117,675 \\ \hline 5350,700 & & 516121850 & & 5550,700 & 5279650 & & 580,00925 & 375 & 5279650 \\ \hline \end{tabular}

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

Auditing and Accounting Cases Investigating Issues of Fraud and Professional Ethics

Authors: Jay Thibodeau, Deborah Freier

4th edition

78025567, 978-0078025563

More Books

Students also viewed these Accounting questions

Question

Define an unfair labor practice and provide three or four examples.

Answered: 1 week ago