Phil is single, has indicated checkbox withholding on his 2021 Form W-4, and has no pre-tax deductions. He earned $1,925.00 during the most recent biweekly pay period. He needs to decide between contributing 3% and $30 to his 401(k) plan. If he chooses the method that results in the lowest taxable income, how much will be withheld for Federal income tax?

Answer rating: 100% (QA)

5775 will be withheld for Federal income tax The calculation would be as follows 192500 x ... View the full answer