Print Item Use (a) the percentage method and (b) the wage-bracket method to compute the federal income taxes to withhold from the wages or salarles of each employee. Enter all amounts as positive numbers. Round your calculations and final answers to the nearest cent. As we go to press, the federal income tax rates for 2022 are being determined by budget talks in Washington and not available for publication. For this edition, the 2021 federal income tax tables for Manual Systems with Forms W-4 from 2020 or later with Standard Withholding and 2021 FICA rates have been used. Click here to access the Percentage Method Tables. Click here to access the Wage-Bracket Method Tables, Amount to Be Withheld No. of Filing Status Withholding Allowances Employee Gross Wage or Salary Percentage Method Wage-Bracket Method Lennon, A. S N/A $675 weekly Starr, P. HH N/A 1,365 weekly McNeil, s. HH N/A 1,775 biweekly Harrison, W. N/A 2,580 semimonthly III Smythe, M. MF) N/A 5,380 monthly Example 4-3 To compute the tax using the percentage method for Manual Payroll Systems with Forms W-4 from 2020 or Later using Sta Withholding Rate Schedules, follow the steps illustrated below. Step 1 Determine the amount of gross wages earned, filing status, adjustments on Form W-4, and frequency of pay. Note: If the wage ends in a fractional dollar amount, the wage may be rounded to the nearest dollar. However, in this text, exact wages are used. - Wilson Goodman, single(S), has no adjustments on ! W-4 and earns $915.60 semimonthly, Compute tax from Tax Table A, Semimonthly, Standa Withholding Rate Schedule, page T-3,