An employee has on file a 2019 W-4 form with box 2 checked and his Annual...

  

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An employee has on file a 2019 W-4 form with box 2 checked and his Annual salary is $50,000 with a filing status of Single with 2 allowances and has a yearly standard deductin of $8,600. His paycheck is processed automatically. The employee is paid by-weekly. Using the correct table and the percentage method calculate the employee's federal Withholding for each pay check. Gross Annual Standard Adjusted Salary Deduction Annual Wage Amount used Amount Adjusted to calculate to Withhold Annual Exceed percentage Over Exceed Wage Amount amount Percentage Amount Amount to Withhold Tentative Annual Over Exceed amount to federal Amount withhold withholding %3D Annual Number of Federal pay periods in a year Federal withholding Withholding per pay period 2020 Percentage Method Tables for Automated Payroll Systems STANDARD Withholding Rate Schedules (Use these if the Form W-4 is from 2019 or earlier, or if the Form W-4 is from 2020 or later and the box in Step 2 of Form W-4 is NOT checked) Form W-4, Step 2, Checkbox, Withholding Rate Schedules (Use these if the Form W-4 is from 2020 or later and the box in Step 2 of Form W-4 IS checked) If the Adjusted Annual If the Adjusted Annual Wage Amount (line 2a) is: of the amount that Wage Amount (line 2a) the Adjusted Annual Wage of the The tentative The tentative amount that the Adjusted Annual Wage is: But less amount to Plus this But less amount to Plus this At least- withhold is: percentage- exceeds- withhold is: than- At least- than- percentage- exceeds- A B E A D E Married Filing Jointly Married Filing Jointly s0.00 so $11,900 $0.00 0% so $0 $12,400 0% so $11,900 $31,650 $31,650 $92,150 $0.00 $1,975.00 $11,900 $31,650 $12,400 $22,275 $22,275 s0.00 $987.50 $12,400 $22,275 10% 10% 12% $52,525 $97,925 12% $92,150 $182,950 $9,235.00 22% $92,150 $52,525 $4,617.50 22% $52,525 $97,925 $175,700 $97,925 $175,700 $182,950 $338,500 $29,211.00 24% $182,950 $175,700 $14,605.50 24% $338,500 $426,600 $66,543.00 32% $338,500 $219,750 $323,425 $33,271.50 32% $426,600 $633,950 $426,600 $633,950 $94,735.00 $167,307.50 35% $219,750 $47,367.50 35% $219,750 $633,950 37% $323,425 S83,653.75 37% $323,425 Single or Married Filing Separately so $3,800 $13,675 so $3,800 $13,675 Single or Married Filing Separately $6,200 $11,138 $26,263 $0.00 0% $0 so.00 0% so $3,800 $0.00 10% $6,200 $11,138 s0.00 10% $6,200 $13,675 S43,925 $987.50 12% S493.75 12% $11,138 $43,925 S89,325 $4,617.50 22% $43,925 $26,263 $48,963 $2,308.75 22% $26,263 $89,325 $167,100 $14,605.50 $89,325 $48,963 $87,850 $48,963 $7,302.75 $16,635.75 24% 24% $167,100 $211,150 $33,271.50 $47,367.50 $167,100 $87,850 $109,875 32% $109,875 32% $87,850 $211,150 $522,200 35% $211,150 $522,200 $265,400 $23,683.75 35% $109,875 $522,200 $156,235.00 37% $265,400 $78,117.50 37% $265,400 An employee has on file a 2019 W-4 form with box 2 checked and his Annual salary is $50,000 with a filing status of Single with 2 allowances and has a yearly standard deductin of $8,600. His paycheck is processed automatically. The employee is paid by-weekly. Using the correct table and the percentage method calculate the employee's federal Withholding for each pay check. Gross Annual Standard Adjusted Salary Deduction Annual Wage Amount used Amount Adjusted to calculate to Withhold Annual Exceed percentage Over Exceed Wage Amount amount Percentage Amount Amount to Withhold Tentative Annual Over Exceed amount to federal Amount withhold withholding %3D Annual Number of Federal pay periods in a year Federal withholding Withholding per pay period 2020 Percentage Method Tables for Automated Payroll Systems STANDARD Withholding Rate Schedules (Use these if the Form W-4 is from 2019 or earlier, or if the Form W-4 is from 2020 or later and the box in Step 2 of Form W-4 is NOT checked) Form W-4, Step 2, Checkbox, Withholding Rate Schedules (Use these if the Form W-4 is from 2020 or later and the box in Step 2 of Form W-4 IS checked) If the Adjusted Annual If the Adjusted Annual Wage Amount (line 2a) is: of the amount that Wage Amount (line 2a) the Adjusted Annual Wage of the The tentative The tentative amount that the Adjusted Annual Wage is: But less amount to Plus this But less amount to Plus this At least- withhold is: percentage- exceeds- withhold is: than- At least- than- percentage- exceeds- A B E A D E Married Filing Jointly Married Filing Jointly s0.00 so $11,900 $0.00 0% so $0 $12,400 0% so $11,900 $31,650 $31,650 $92,150 $0.00 $1,975.00 $11,900 $31,650 $12,400 $22,275 $22,275 s0.00 $987.50 $12,400 $22,275 10% 10% 12% $52,525 $97,925 12% $92,150 $182,950 $9,235.00 22% $92,150 $52,525 $4,617.50 22% $52,525 $97,925 $175,700 $97,925 $175,700 $182,950 $338,500 $29,211.00 24% $182,950 $175,700 $14,605.50 24% $338,500 $426,600 $66,543.00 32% $338,500 $219,750 $323,425 $33,271.50 32% $426,600 $633,950 $426,600 $633,950 $94,735.00 $167,307.50 35% $219,750 $47,367.50 35% $219,750 $633,950 37% $323,425 S83,653.75 37% $323,425 Single or Married Filing Separately so $3,800 $13,675 so $3,800 $13,675 Single or Married Filing Separately $6,200 $11,138 $26,263 $0.00 0% $0 so.00 0% so $3,800 $0.00 10% $6,200 $11,138 s0.00 10% $6,200 $13,675 S43,925 $987.50 12% S493.75 12% $11,138 $43,925 S89,325 $4,617.50 22% $43,925 $26,263 $48,963 $2,308.75 22% $26,263 $89,325 $167,100 $14,605.50 $89,325 $48,963 $87,850 $48,963 $7,302.75 $16,635.75 24% 24% $167,100 $211,150 $33,271.50 $47,367.50 $167,100 $87,850 $109,875 32% $109,875 32% $87,850 $211,150 $522,200 35% $211,150 $522,200 $265,400 $23,683.75 35% $109,875 $522,200 $156,235.00 37% $265,400 $78,117.50 37% $265,400

Answer rating: 100% (QA)

Standard Adjusted Deduction Annual Gross Annual Salary 5000000 S860000 S 4140000 Amoun... View the full answer