Question
Withholding Methods (LO 9.1) Beckett Rice submitted a new Form W-4 for 2022 as presented below. If Beckett is paid gross wages of $3,000 for
Withholding Methods (LO 9.1)
Beckett Rice submitted a new Form W-4 for 2022 as presented below. If Beckett is paid gross wages of $3,000 for the semimonthly period, determine Becketts income tax withholding using the percentage method and the wage bracket method.
Round your answers to two decimal places.
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Form W-4 Department of the Treasury Internal Revenue Service | Employee's Withholding Certificate Complete Form W-4 so that your employer can withhold the correct federal income tax from your pay. Give Form W-4 to your employer. Your withholding is subject to review by the IRS. | OMB No. 1545-0074 2022 |
Step 1: Enter Personal Information | (a) | First name and middle initial Beckett | Last name Rice | (b) | Your social security number 344-56-7890 |
Address 6010 Middle Fiskville Road | Does your name match the name on your social security card? If not, to ensure you get credit for your earnings, contact SSA at 800-772-1213 or go to www.ssa.gov . | ||||
City or town, state, and ZIP code Austin, TX 78752 | |||||
(c) | Single or Married filing separately Married filing jointly or Qualifying widow(er) |
Step 2: Multiple Jobs or Spouse Works | Complete this step if you (1) hold more than one job at a time, or (2) are married filing jointly and your spouse also works. The correct amount of withholding depends on income earned from all of these jobs. Do only one of the following.
|
Step 3: Claim Dependents | If your total income will be $200,000 or less ($400,000 or less if married filing jointly): | ||
Multiply the number of qualifying children under age 17 by $2,000 | $ 4,000 | ||
Multiply the number of other dependents by $500 . . . . . . . . . . . . | $ | ||
Add the amounts above and enter the total here . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 3 | $ 4,000 | |
Step 4 (optional): Other Adjustments |
| 4(a) | $ 5,600 |
| 4(b) | $ 3,000 | |
| 4(c) | $ 0 | |
a. Percentage method of withholding: fill in the blank 1 of 1$
b. Wage bracket method of withholding: fill in the blank 1 of 1$
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