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ACC115-72L Exam 2 - Chapters 3 & 4 NAME: _________________________ True/False Indicate whether the statement is true or false. F 1. Employers do not pay payroll taxes on payments made to independent contractors. ____ 2. The FICA tax rates and taxable wage bases are exactly the same for employees and employers. ____ 3. tax. Under SECA, all of an individual's self-employment income is counted in determining the OASDI ____T 4. A monthly depositor is one who reported employment taxes of $50,000 or more for the four quarters in the lookback period. ____ 5. The highest paid executives of a firm are excluded from coverage under the Federal Insurance Contributions Act (FICA). ____ 6. Since not-for-profit corporations are exempt from federal income taxes, they are not defined as employers under the federal income tax withholding law. ____ 7. The amount of federal income taxes to be withheld is determined after subtracting from the employee's gross wages any local and state taxes. ____ 8. Under the federal income tax withholding law, income taxes are not withheld from the value of meals that employers furnish workers on the employers' premises for the employers' convenience. ____ 9. All taxable noncash fringe benefits received during the year must be added to the employees' taxable pay on the last payday of the year. ____ 10. 30. ____ 11. On August 1, Hunt filed an amended Form W-4 to show a decrease in the number of allowances claimed. Hunt's employer must put the new withholding allowance certificate into effect before the next weekly payday on August 5. ____ 12. The earned income credit (EIC) reduces federal income taxes mostly for workers who have dependent children and maintain a household. ____ 13. Eligible employees who want to receive advance EIC payments must file a special Form W-4 with their employer. ____ 14. The IRA format of the SIMPLE plan allows employees to make tax-free contributions of up to $10,000. ____ 15. Gere became the father of triplets on June 20. He must file an amended Form W-4 on or before June Employees must be given Form W-2 on or before January 31 following the close of the calendar year. Multiple Choice Identify the choice that best completes the statement or answers the question. ____ 16. FICA excludes from coverage all of the following kinds of employment except: a. domestic service performed in a college sorority by a student. b. service performed by a 16-year-old child in the employ of the mother. c. baby sitting service performed by a 35-year-old person who receives $40 in cash during the calendar quarter. ____ ____ ____ ____ ____ ____ ____ d. federal government secretaries hired in 1990. e. services performed by a railroad worker for an employer covered by the Railroad Retirement Tax Act. 17. Each of the following items is accurately defined under FICA as taxable wages except: a. value of meals furnished employees for the employer's convenience. b. value of meals furnished employees for the employees' convenience. c. commissions. d. dismissal pay. e. $500 award for productivity improvement suggestion. 18. The OASDI taxable wage base is correctly defined as: a. all amounts earned by an employee during a calendar year. b. the maximum amount of wages during a calendar year that is subject to the OASDI tax. c. all amounts paid an employee during a calendar year. d. all amounts either earned by, or paid to, an employee during a calendar year. e. none of the above. 19. Which of the following statements does not describe an employee's FICA taxes and withholdings? a. Employee's taxes are collected by the employer and paid to the IRS along with the employer's taxes. b. Employee's taxes are deducted from the employee's wages at the time of payment. c. Employee's liability for the FICA taxes continues even after the employer has withheld them. d. Amount of tax to be withheld is computed by multiplying the employee's taxable wages by the current tax rate. e. Employee is entitled to a refund for overpayment of FICA taxes resulting from having worked for more than one employer. 20. Which of the following deposit requirements pertains to a monthly depositor who has accumulated employment taxes of $2,300 at the end of October? a. No deposit is required. b. The undeposited taxes should be carried over to the end of November. c. The taxes must be deposited on or before November 15. d. The taxes must be deposited on or before the next banking day. e. None of the above. 21. Which of the following deposit requirements pertains to a nonagricultural employer who has employer FICA taxes and withheld employee FICA taxes and income taxes of $125,000 at the end of payday on Friday, August 15? a. No deposit is required until Tuesday, August 19. b. The taxes must be deposited by the close of the next banking day. c. The taxes must be deposited on or before August 31. d. The undeposited taxes should be carried over to the end of September. e. None of the above. 22. Ashe, an employer, has made timely deposits of FICA taxes and withheld income taxes during the third quarter. The last day of October is Sunday. The latest date on which Ashe may file Form 941 is: a. October 10. b. October 31. c. November 1. d. November 10. e. November 15. 23. All of the following are properly defined as wages subject to the withholding of federal income taxes except: ____ ____ ____ ____ ____ a. b. c. d. e. 24. a. b. c. d. e. 25. a. b. c. d. year-end bonus. kitchen appliances given by manufacturer in lieu of cash wages. dismissal payment. vacation pay. payments made under worker's compensation law. For which of the following payments is the employer required to withhold federal income taxes? Advances made to sales personnel for traveling expenses Tipped employee's monthly tips of $120 Deceased person's wages paid to the estate Minister of Presbyterian church All of the above A personal allowance: amounted to $2,000 in 2005. may be claimed to exempt a portion of their earnings from withholding. is indexed for inflation every calendar quarter. may be claimed at the same time with each employer for whom an employee is working during the year. e. may not be claimed by nonresident aliens from Argentina. 26. Arch gives you an amended Form W-4 dated March 15, 2006, on which he claims two additional withholding allowances. He asks you to refund the excess taxes that were deducted from January 1 to March 15 when Arch claimed only one withholding allowance. You should: a. repay the overwithheld taxes on Arch's next payday. b. tell Arch that you will spread out a refund of the overwithheld taxes equally over the next six pays. c. inform Arch that you are unable to repay the overwithheld taxes that were withheld before March 15 and that the adjustment will have to be made when he files his annual income tax return. d. tell Arch to write the IRS immediately and ask for a refund of the overwithheld taxes. e. inform Arch that you will appoint a committee to study his request. 27. Beech refuses to state her marital status on Form W-4 which she gave to you, the payroll manager, when she was hired. You should: a. tell Beech that it is OK since you know that she was recently divorced and is reluctant to talk about it. b. inform Beech that she will have to write the IRS and give her reasons for refusing to state her marital status. c. tell Beech that you will have to withhold income taxes as if she were married and had claimed one allowance. d. tell Beech that you will have to withhold income taxes according to the withholding table for a single employee with no allowances. e. advise Beech to write "It is no business of yours." in the margin of her Form W-4. 28. To curb the practice of employees filing false Forms W-4, the IRS requires that an employer submit to the agency a copy of each Form W-4: a. the IRS has requested in writing. b. on which an employee, usually earning $180 each week at the time Form W-4 was filed, now claims to be exempt from withholding. c. on which an employee claims to be single but has 9 withholding allowances. d. on which a married employee claims no withholding allowances. e. on which a recently divorced employee claims 5 withholding allowances and authorizes an additional $10 to be withheld each week. ____ ____ 29. All of the following statements correctly pertain to the advance payment of the earned income credit (EIC) except: a. The EIC reduces federal income taxes mostly for workers who have dependent children and maintain a household. b. The maximum amount of the EIC is adjusted annually for inflation. c. Eligible employees who want to receive advance EIC payments must file Form W-5 with their employer. d. If employees do not choose to get advance EIC payments, they lose the benefit of the EIC when they file their personal income tax returns. e. All of the above statements are correct. 30. Which of the following forms is used to report rents paid over $600 to landlords? a. Form 1099-R b. Form 1099-INT c. Form 1099-MISC d. Form 1099-G e. Form 8027 Problem In the following problems, use the following tax rates and taxable wage: OASDI-6.2% on the first $93,000; HI-1.45% on all taxable wages. 31. Crow earned $585.15 during the week ended March 1, 20-. Prior to payday, Crow had cumulative gross earnings of $4,733.20. a) The amount of OASDI taxes to withhold from Crow's pay is __________. b) The amount of HI taxes to withhold from Crow's pay is __________. 32. Dee is paid $1,245 on November 7, 20-. Dee had cumulative gross earnings, including overtime pay, of $92,000 prior to this pay. a) The amount of OASDI taxes to withhold from Dee's pay is __________. b) The amount of HI taxes to withhold from Dee's pay is __________. 33. Eager, a tipped employee, reported to his employer that he had received $320 in tips during March. On the next payday, April 4, he was paid his regular salary of $250. a) The amount of OASDI taxes to withhold from Eager's pay is __________. b) The amount of HI taxes to withhold from Eager's pay is __________. Exhibit 4-1: Use the following tables to calculate the answers to the problems listed. SINGLE Persons-BIWEEKLY Payroll Period (For Wages Paid in 2005) And the number of withholding allowances claimed is If the wages are- At least But less than 300 310 320 330 340 310 320 330 340 350 0 20 21 22 23 24 1 8 9 10 11 12 2 3 4 5 6 7 The amount of income tax to be withheld is 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 8 9 0 0 0 0 0 10 0 0 0 0 0 0 0 0 0 0 350 360 370 380 390 360 370 380 390 400 25 26 27 29 30 13 14 15 16 17 1 2 3 4 5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 400 410 420 430 440 410 420 430 440 450 32 33 35 36 38 18 19 20 21 22 6 7 8 9 10 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 450 460 470 480 490 460 470 480 490 500 39 41 42 44 45 23 24 25 26 27 11 12 13 14 15 0 0 0 1 2 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 500 520 540 560 580 520 540 560 580 600 47 50 53 56 59 29 32 35 38 41 16 18 20 22 24 4 6 8 10 12 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 600 620 640 660 680 620 640 660 680 700 62 65 68 71 74 44 47 50 53 56 26 29 32 35 38 14 16 18 20 22 2 4 6 8 10 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 700 720 740 760 780 720 740 760 780 800 77 80 83 86 89 59 62 65 68 71 41 44 47 50 53 24 26 28 31 34 12 14 16 18 20 0 1 3 5 7 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 8 9 10 MARRIED Persons-BIWEEKLY Payroll Period (For Wages Paid in 2004) And the number of withholding allowances claimed is If the wages are- At least But less than 290 300 310 320 330 300 310 320 330 340 0 0 1 2 3 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 340 350 360 370 380 350 360 370 380 390 4 5 6 7 8 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 390 400 410 420 430 400 410 420 430 440 9 10 11 12 13 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 440 450 460 470 480 450 460 470 480 490 14 15 16 17 18 1 2 3 4 5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 2 3 4 5 6 7 The amount of income tax to be withheld is 490 500 520 540 560 500 520 540 560 580 19 20 22 24 26 6 8 10 12 14 0 0 0 0 2 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 580 600 620 640 660 600 620 640 660 680 28 30 32 34 36 16 18 20 22 24 4 6 8 10 12 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 680 700 720 740 760 700 720 740 760 780 38 40 42 44 46 26 28 30 32 34 14 16 18 20 22 1 3 5 7 9 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 780 800 820 840 860 800 820 840 860 880 48 50 52 54 56 36 38 40 42 44 24 26 28 30 32 11 13 15 17 19 0 1 3 5 7 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 TABLE 2BI-WEEKLY Payroll Period (a) SINGLE person (including head of household) (b) MARRIED person If the amount of wages (after subtracting withholding allowances) is: The amount of income tax to withhold is: If the amount of wages (after subtracting withholding allowances) is: The amount of income tax to withhold is: Not over $102.................... $0 Not over $308.................... $0 Over $102 $377 $1,212 $2,683 $5,844 $12,625 But not over $377......... $1,212........ $2,683......... $5,844......... $12,625......... ....................... 10% $27.50 plus 15% $152.75 plus 25% $520.50 plus 28% $1,405.58 plus 33% $3,643.31 plus 35% of excess over $102 $377 $1,212 $2,683 $5,844 $12,625 Over $308 $869 $2,546 $4,644 $7,292 $12,817 But not over $869...... $2,546...... $4,644...... $7,292...... $12,817...... ...................... of excess over 10% $308 $56.10 plus 15% $869 $307.65 plus 25% $2,546 $832.15 plus 28% $4,644 $1,573.59 plus 33% $7,292 $3,396.84 plus 35% $12,817 34. Determine the income tax to withhold from the biweekly wages of the following employees (wagebracket): Karen Overton (single, 0 allowances), $595 wages __________ Nancy Haller (married, 4 allowances), $535 wages __________ Alan Glasgow (married, 1 allowance), $515 wages __________ Joseph Kerr (single, 4 allowances), $650 wages __________ Ginni Lorenz (single, 1 allowance), $460 wages __________ 35. Ted Duerson earned $495 this biweekly pay. In addition, he is being paid another $300 as vacation pay for the following two weeks. If Duerson is married and claims three withholding allowances, how much total FIT tax would be withheld from his $795 gross ACC115-72L Exam 2 - Chapters 3 & 4 NAME: _________________________ True/False Indicate whether the statement is true or false. F 1. Employers do not pay payroll taxes on payments made to independent contractors. ____ 2. The FICA tax rates and taxable wage bases are exactly the same for employees and employers. ____ 3. tax. Under SECA, all of an individual's self-employment income is counted in determining the OASDI ____T 4. A monthly depositor is one who reported employment taxes of $50,000 or more for the four quarters in the lookback period. ____ 5. The highest paid executives of a firm are excluded from coverage under the Federal Insurance Contributions Act (FICA). ____ 6. Since not-for-profit corporations are exempt from federal income taxes, they are not defined as employers under the federal income tax withholding law. ____ 7. The amount of federal income taxes to be withheld is determined after subtracting from the employee's gross wages any local and state taxes. ____ 8. Under the federal income tax withholding law, income taxes are not withheld from the value of meals that employers furnish workers on the employers' premises for the employers' convenience. ____ 9. All taxable noncash fringe benefits received during the year must be added to the employees' taxable pay on the last payday of the year. ____ 10. 30. ____ 11. On August 1, Hunt filed an amended Form W-4 to show a decrease in the number of allowances claimed. Hunt's employer must put the new withholding allowance certificate into effect before the next weekly payday on August 5. ____ 12. The earned income credit (EIC) reduces federal income taxes mostly for workers who have dependent children and maintain a household. ____ 13. Eligible employees who want to receive advance EIC payments must file a special Form W-4 with their employer. ____ 14. The IRA format of the SIMPLE plan allows employees to make tax-free contributions of up to $10,000. ____ 15. Gere became the father of triplets on June 20. He must file an amended Form W-4 on or before June Employees must be given Form W-2 on or before January 31 following the close of the calendar year. Multiple Choice Identify the choice that best completes the statement or answers the question. ____ 16. FICA excludes from coverage all of the following kinds of employment except: a. domestic service performed in a college sorority by a student. b. service performed by a 16-year-old child in the employ of the mother. c. baby sitting service performed by a 35-year-old person who receives $40 in cash during the calendar quarter. ____ ____ ____ ____ ____ ____ ____ d. federal government secretaries hired in 1990. e. services performed by a railroad worker for an employer covered by the Railroad Retirement Tax Act. 17. Each of the following items is accurately defined under FICA as taxable wages except: a. value of meals furnished employees for the employer's convenience. b. value of meals furnished employees for the employees' convenience. c. commissions. d. dismissal pay. e. $500 award for productivity improvement suggestion. 18. The OASDI taxable wage base is correctly defined as: a. all amounts earned by an employee during a calendar year. b. the maximum amount of wages during a calendar year that is subject to the OASDI tax. c. all amounts paid an employee during a calendar year. d. all amounts either earned by, or paid to, an employee during a calendar year. e. none of the above. 19. Which of the following statements does not describe an employee's FICA taxes and withholdings? a. Employee's taxes are collected by the employer and paid to the IRS along with the employer's taxes. b. Employee's taxes are deducted from the employee's wages at the time of payment. c. Employee's liability for the FICA taxes continues even after the employer has withheld them. d. Amount of tax to be withheld is computed by multiplying the employee's taxable wages by the current tax rate. e. Employee is entitled to a refund for overpayment of FICA taxes resulting from having worked for more than one employer. 20. Which of the following deposit requirements pertains to a monthly depositor who has accumulated employment taxes of $2,300 at the end of October? a. No deposit is required. b. The undeposited taxes should be carried over to the end of November. c. The taxes must be deposited on or before November 15. d. The taxes must be deposited on or before the next banking day. e. None of the above. 21. Which of the following deposit requirements pertains to a nonagricultural employer who has employer FICA taxes and withheld employee FICA taxes and income taxes of $125,000 at the end of payday on Friday, August 15? a. No deposit is required until Tuesday, August 19. b. The taxes must be deposited by the close of the next banking day. c. The taxes must be deposited on or before August 31. d. The undeposited taxes should be carried over to the end of September. e. None of the above. 22. Ashe, an employer, has made timely deposits of FICA taxes and withheld income taxes during the third quarter. The last day of October is Sunday. The latest date on which Ashe may file Form 941 is: a. October 10. b. October 31. c. November 1. d. November 10. e. November 15. 23. All of the following are properly defined as wages subject to the withholding of federal income taxes except: ____ ____ ____ ____ ____ a. b. c. d. e. 24. a. b. c. d. e. 25. a. b. c. d. year-end bonus. kitchen appliances given by manufacturer in lieu of cash wages. dismissal payment. vacation pay. payments made under worker's compensation law. For which of the following payments is the employer required to withhold federal income taxes? Advances made to sales personnel for traveling expenses Tipped employee's monthly tips of $120 Deceased person's wages paid to the estate Minister of Presbyterian church All of the above A personal allowance: amounted to $2,000 in 2005. may be claimed to exempt a portion of their earnings from withholding. is indexed for inflation every calendar quarter. may be claimed at the same time with each employer for whom an employee is working during the year. e. may not be claimed by nonresident aliens from Argentina. 26. Arch gives you an amended Form W-4 dated March 15, 2006, on which he claims two additional withholding allowances. He asks you to refund the excess taxes that were deducted from January 1 to March 15 when Arch claimed only one withholding allowance. You should: a. repay the overwithheld taxes on Arch's next payday. b. tell Arch that you will spread out a refund of the overwithheld taxes equally over the next six pays. c. inform Arch that you are unable to repay the overwithheld taxes that were withheld before March 15 and that the adjustment will have to be made when he files his annual income tax return. d. tell Arch to write the IRS immediately and ask for a refund of the overwithheld taxes. e. inform Arch that you will appoint a committee to study his request. 27. Beech refuses to state her marital status on Form W-4 which she gave to you, the payroll manager, when she was hired. You should: a. tell Beech that it is OK since you know that she was recently divorced and is reluctant to talk about it. b. inform Beech that she will have to write the IRS and give her reasons for refusing to state her marital status. c. tell Beech that you will have to withhold income taxes as if she were married and had claimed one allowance. d. tell Beech that you will have to withhold income taxes according to the withholding table for a single employee with no allowances. e. advise Beech to write "It is no business of yours." in the margin of her Form W-4. 28. To curb the practice of employees filing false Forms W-4, the IRS requires that an employer submit to the agency a copy of each Form W-4: a. the IRS has requested in writing. b. on which an employee, usually earning $180 each week at the time Form W-4 was filed, now claims to be exempt from withholding. c. on which an employee claims to be single but has 9 withholding allowances. d. on which a married employee claims no withholding allowances. e. on which a recently divorced employee claims 5 withholding allowances and authorizes an additional $10 to be withheld each week. ____ ____ 29. All of the following statements correctly pertain to the advance payment of the earned income credit (EIC) except: a. The EIC reduces federal income taxes mostly for workers who have dependent children and maintain a household. b. The maximum amount of the EIC is adjusted annually for inflation. c. Eligible employees who want to receive advance EIC payments must file Form W-5 with their employer. d. If employees do not choose to get advance EIC payments, they lose the benefit of the EIC when they file their personal income tax returns. e. All of the above statements are correct. 30. Which of the following forms is used to report rents paid over $600 to landlords? a. Form 1099-R b. Form 1099-INT c. Form 1099-MISC d. Form 1099-G e. Form 8027 Problem In the following problems, use the following tax rates and taxable wage: OASDI-6.2% on the first $93,000; HI-1.45% on all taxable wages. 31. Crow earned $585.15 during the week ended March 1, 20-. Prior to payday, Crow had cumulative gross earnings of $4,733.20. a) The amount of OASDI taxes to withhold from Crow's pay is __________. b) The amount of HI taxes to withhold from Crow's pay is __________. 32. Dee is paid $1,245 on November 7, 20-. Dee had cumulative gross earnings, including overtime pay, of $92,000 prior to this pay. a) The amount of OASDI taxes to withhold from Dee's pay is __________. b) The amount of HI taxes to withhold from Dee's pay is __________. 33. Eager, a tipped employee, reported to his employer that he had received $320 in tips during March. On the next payday, April 4, he was paid his regular salary of $250. a) The amount of OASDI taxes to withhold from Eager's pay is __________. b) The amount of HI taxes to withhold from Eager's pay is __________. Exhibit 4-1: Use the following tables to calculate the answers to the problems listed. SINGLE Persons-BIWEEKLY Payroll Period (For Wages Paid in 2005) And the number of withholding allowances claimed is If the wages are- At least But less than 300 310 320 330 340 310 320 330 340 350 0 20 21 22 23 24 1 8 9 10 11 12 2 3 4 5 6 7 The amount of income tax to be withheld is 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 8 9 0 0 0 0 0 10 0 0 0 0 0 0 0 0 0 0 350 360 370 380 390 360 370 380 390 400 25 26 27 29 30 13 14 15 16 17 1 2 3 4 5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 400 410 420 430 440 410 420 430 440 450 32 33 35 36 38 18 19 20 21 22 6 7 8 9 10 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 450 460 470 480 490 460 470 480 490 500 39 41 42 44 45 23 24 25 26 27 11 12 13 14 15 0 0 0 1 2 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 500 520 540 560 580 520 540 560 580 600 47 50 53 56 59 29 32 35 38 41 16 18 20 22 24 4 6 8 10 12 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 600 620 640 660 680 620 640 660 680 700 62 65 68 71 74 44 47 50 53 56 26 29 32 35 38 14 16 18 20 22 2 4 6 8 10 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 700 720 740 760 780 720 740 760 780 800 77 80 83 86 89 59 62 65 68 71 41 44 47 50 53 24 26 28 31 34 12 14 16 18 20 0 1 3 5 7 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 8 9 10 MARRIED Persons-BIWEEKLY Payroll Period (For Wages Paid in 2004) And the number of withholding allowances claimed is If the wages are- At least But less than 290 300 310 320 330 300 310 320 330 340 0 0 1 2 3 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 340 350 360 370 380 350 360 370 380 390 4 5 6 7 8 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 390 400 410 420 430 400 410 420 430 440 9 10 11 12 13 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 440 450 460 470 480 450 460 470 480 490 14 15 16 17 18 1 2 3 4 5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 2 3 4 5 6 7 The amount of income tax to be withheld is 490 500 520 540 560 500 520 540 560 580 19 20 22 24 26 6 8 10 12 14 0 0 0 0 2 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 580 600 620 640 660 600 620 640 660 680 28 30 32 34 36 16 18 20 22 24 4 6 8 10 12 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 680 700 720 740 760 700 720 740 760 780 38 40 42 44 46 26 28 30 32 34 14 16 18 20 22 1 3 5 7 9 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 780 800 820 840 860 800 820 840 860 880 48 50 52 54 56 36 38 40 42 44 24 26 28 30 32 11 13 15 17 19 0 1 3 5 7 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 TABLE 2BI-WEEKLY Payroll Period (a) SINGLE person (including head of household) (b) MARRIED person If the amount of wages (after subtracting withholding allowances) is: The amount of income tax to withhold is: If the amount of wages (after subtracting withholding allowances) is: The amount of income tax to withhold is: Not over $102.................... $0 Not over $308.................... $0 Over $102 $377 $1,212 $2,683 $5,844 $12,625 But not over $377......... $1,212........ $2,683......... $5,844......... $12,625......... ....................... 10% $27.50 plus 15% $152.75 plus 25% $520.50 plus 28% $1,405.58 plus 33% $3,643.31 plus 35% of excess over $102 $377 $1,212 $2,683 $5,844 $12,625 Over $308 $869 $2,546 $4,644 $7,292 $12,817 But not over $869...... $2,546...... $4,644...... $7,292...... $12,817...... ...................... of excess over 10% $308 $56.10 plus 15% $869 $307.65 plus 25% $2,546 $832.15 plus 28% $4,644 $1,573.59 plus 33% $7,292 $3,396.84 plus 35% $12,817 34. Determine the income tax to withhold from the biweekly wages of the following employees (wagebracket): Karen Overton (single, 0 allowances), $595 wages __________ Nancy Haller (married, 4 allowances), $535 wages __________ Alan Glasgow (married, 1 allowance), $515 wages __________ Joseph Kerr (single, 4 allowances), $650 wages __________ Ginni Lorenz (single, 1 allowance), $460 wages __________ 35. Ted Duerson earned $495 this biweekly pay. In addition, he is being paid another $300 as vacation pay for the following two weeks. If Duerson is married and claims three withholding allowances, how much total FIT tax would be withheld from his $795 gross