U.S. Bureau of Econo... Gross Domestic Prod... o o Flashcards Payroll Ac... Chegg Search Book Print Item 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 his Form W-4 and earns $915.60 semimonthly. Compute tax from Tax Table A, Semimonthly, Standard Step 2 Withholding Rate Schedule, page T-3. Determine the withholding tax by referring to the appropriate Percentage Method withholding Table (see Figure 4.6 below). ($915.60 - $517.00 - $398.60 10% = $39.86 + $0) = $39.86 Use the percentage method to compute the federal income taxes to withhold from the wages or salaries of each employee. If an amount is zero, enter "O". Round your calculations and final answers to the nearest cent. As we go to press, the federal income tax rates for 2021 are being determined by budget talks in Washington and not available for publication. For this edition, the 2020 federal income tax tables for Manual Systems with Forms W-4 from 2020 or later with Standard Withholding and 2020 FICA rates have been used. Click here to access the percentage Method Tables. No. of Employee Employee Filing withholding Gross Wage No. Name Status Allowances or Salary Withheld 1 James, A. MF) $1,610 weekly 2 Lake, R. 825 biweekly 3 Walls, S. N/A 925 semimonthly Free, Y N/A 2,875 monthly Amount to Be N/A HH N/A HH 4 MF) Next U.S. Bureau of Econo... Gross Domestic Prod... o o Flashcards Payroll Ac... Chegg Search Book Print Item 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 his Form W-4 and earns $915.60 semimonthly. Compute tax from Tax Table A, Semimonthly, Standard Step 2 Withholding Rate Schedule, page T-3. Determine the withholding tax by referring to the appropriate Percentage Method withholding Table (see Figure 4.6 below). ($915.60 - $517.00 - $398.60 10% = $39.86 + $0) = $39.86 Use the percentage method to compute the federal income taxes to withhold from the wages or salaries of each employee. If an amount is zero, enter "O". Round your calculations and final answers to the nearest cent. As we go to press, the federal income tax rates for 2021 are being determined by budget talks in Washington and not available for publication. For this edition, the 2020 federal income tax tables for Manual Systems with Forms W-4 from 2020 or later with Standard Withholding and 2020 FICA rates have been used. Click here to access the percentage Method Tables. No. of Employee Employee Filing withholding Gross Wage No. Name Status Allowances or Salary Withheld 1 James, A. MF) $1,610 weekly 2 Lake, R. 825 biweekly 3 Walls, S. N/A 925 semimonthly Free, Y N/A 2,875 monthly Amount to Be N/A HH N/A HH 4 MF) Next
