Chapter 10 Tax Return Problems A Saved Hel 3 Henry, who earned $120,000 during 2020, is paid on a monthly basis, is married, (spouse does not work) and two dependents who are under the age of 17. Assume that Henry has only one job or that step 2 of Form W-4 is not checked. Also, his employer uses the percentage method table for an automated payroll system. Use percentage method tables for automated systems 6.68 points Required: a. What is Henry's federal tax withholding for each pay period? b. What is Henry's FICA withholding for each pay period? eBook (For all requirements, round your intermediate computations and final answers to 2 decimal places.) Print References Amount a Federal tax withholdings b. Total FICA withholding $ 765.00 Apps Gwww.google.com Canvas E Connect -Written b. FSA Federal Student Aid P Pandora TurboTax Online C Chegg Unemployment & Mind Tap - Business... STANDARD Withholding Rate Schedules (Use these if the Form W.4 is from 2019 or earlier, or if the Form W-4 is Form W-4, Step 2, Checkbox, Withholding Rate Schedules from 2020 or later and the box in Step 2 of Form W-4 is NOT checked) (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 Wage The tentative Amount (line 2a) is: Plus this of the amount If the Adjusted Annual Wage of the amount that The tentative Plus this that the Adjusted amount to percentage the Adjusted Annual Amount (line 2a) is: At least But less than amount to withhold is: Wage exceeds percentage Annual Wage At least But less than withhold is: A B exceeds D E A B D E Married Filling Jointly Married Filling Jointly SO $ 11,900 $ 0.00 0% SO SO $ 12,400 S 0.00 0% SO S 11,900 S 31,650 S 0.00 10% $ 11,900 S 12,400 $ 22,275 $ 0.00 10% S 12,400 S 31.650 $ 92,150 $ 1,975.00 12% S 31,650 S 22,275 S 52,525 $ 987.50 12% S 22,275 S 92,150 S 182,950 S 9.235.00 22% S 92,150 S 52,525 $97.925 $ 4,617.50 22% S 52,525 S 182.950 S 338.500 $ 29,211.00 24% $ 182,950 $ 97,925 $ 175,700 $ 14,605.50 24% S 97,925 S 338,500 S 426,600 $ 66,543.00 32% $ 338,500 $ 175,700 S219,750 $ 33,271.50 32% $ 175,700 S 426,600 $ 633,950 S 94,735.00 35% $ 426,600 $ 219,750 S 323,425 $ 47,367.50 35% $ 219.750 S 633.950 $ 167,307.50 37% $ 633,950 S 323,425 $ 83,653.75 37% $ 323,425 Single or Married Filling Separately Single or Married Filling Separately SO S 3,800 $ 0.00 0% SO SO $ 6,200 $ 0.00 0% SO $ 3,800 S 13,675 $ 0.00 10% S 3,800 S 6,200 S 11,138 $ 0.00 10% S 6,200 S 13,675 S 43.925 S 987.50 12% $ 13,675 S 11,138 S 26,263 $ 493.75 12% S 11,138 S 43.925 S 89,325 S 4,617.50 22% $ 43.925 $ 26,263 $ 48,963 $ 2,308.75 22% S 26.263 S 89,325 S 167,100 S 14.605.50 24% $ 89,325 $ 48,963 $ 87,850 $ 7,302.75 24% $ 48,963 S 167,100 S 211,150 S 33,271.50 32% S 167,100 $ 87,850 $ 109,875 $ 16,635.75 32% $ 87,850 S 211,150 $ 522,200 $ 47,367.50 35% $ 211,150 $ 109.875 $ 265,400 $ 23,683.75 35% $ 109,875 S 522.200 S 156,235.00 37% S 522,200 $ 265,400 S 78.117.50 37% S 265,400 Head of Household Head of Household SO S 0.00 S 10,050 0% SO $0 0% $ 9,325 S 0.00 SO S 24,150 S 0.00 S 10,050 10% $ 10,050 $ 9,325 $ 0.00 S 16,375 10% S 9,325 S 63.750 $ 1,410.00 12% $ 24.150 S 16,375 S 24,150 S 36,175 12% S 705.00 S 16,375 S 6,162.00 22% S 95,550 S 36,175 $ 63,750 $ 52,075 S 63,750 22% $ 3,081.00 S 36,175 24% S 95.550 S 173,350 $ 13,158.00 $ 95,550 S 52,075 24% $ 90,975 $ 6,579,00 $ 52,075 32% S 173,350 S 217,400 $ 31,830.00 S 173,350 $ 113,000 32% S 90,975 $ 15,915.00 S 90,975 $ 268,525 $ 113,000 35% $ 217,400 S 528,450 35% S 113,000 $ 217,400 S 45,926.00 $ 22,963.00 S 268.525 37% 37% S 528,450 S 154,793.50 $ 77,396.75 S 528,450 S 268,525 * Chapter 10 Tax Return Problems A Saved Hel 3 Henry, who earned $120,000 during 2020, is paid on a monthly basis, is married, (spouse does not work) and two dependents who are under the age of 17. Assume that Henry has only one job or that step 2 of Form W-4 is not checked. Also, his employer uses the percentage method table for an automated payroll system. Use percentage method tables for automated systems 6.68 points Required: a. What is Henry's federal tax withholding for each pay period? b. What is Henry's FICA withholding for each pay period? eBook (For all requirements, round your intermediate computations and final answers to 2 decimal places.) Print References Amount a Federal tax withholdings b. Total FICA withholding $ 765.00 Apps Gwww.google.com Canvas E Connect -Written b. FSA Federal Student Aid P Pandora TurboTax Online C Chegg Unemployment & Mind Tap - Business... STANDARD Withholding Rate Schedules (Use these if the Form W.4 is from 2019 or earlier, or if the Form W-4 is Form W-4, Step 2, Checkbox, Withholding Rate Schedules from 2020 or later and the box in Step 2 of Form W-4 is NOT checked) (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 Wage The tentative Amount (line 2a) is: Plus this of the amount If the Adjusted Annual Wage of the amount that The tentative Plus this that the Adjusted amount to percentage the Adjusted Annual Amount (line 2a) is: At least But less than amount to withhold is: Wage exceeds percentage Annual Wage At least But less than withhold is: A B exceeds D E A B D E Married Filling Jointly Married Filling Jointly SO $ 11,900 $ 0.00 0% SO SO $ 12,400 S 0.00 0% SO S 11,900 S 31,650 S 0.00 10% $ 11,900 S 12,400 $ 22,275 $ 0.00 10% S 12,400 S 31.650 $ 92,150 $ 1,975.00 12% S 31,650 S 22,275 S 52,525 $ 987.50 12% S 22,275 S 92,150 S 182,950 S 9.235.00 22% S 92,150 S 52,525 $97.925 $ 4,617.50 22% S 52,525 S 182.950 S 338.500 $ 29,211.00 24% $ 182,950 $ 97,925 $ 175,700 $ 14,605.50 24% S 97,925 S 338,500 S 426,600 $ 66,543.00 32% $ 338,500 $ 175,700 S219,750 $ 33,271.50 32% $ 175,700 S 426,600 $ 633,950 S 94,735.00 35% $ 426,600 $ 219,750 S 323,425 $ 47,367.50 35% $ 219.750 S 633.950 $ 167,307.50 37% $ 633,950 S 323,425 $ 83,653.75 37% $ 323,425 Single or Married Filling Separately Single or Married Filling Separately SO S 3,800 $ 0.00 0% SO SO $ 6,200 $ 0.00 0% SO $ 3,800 S 13,675 $ 0.00 10% S 3,800 S 6,200 S 11,138 $ 0.00 10% S 6,200 S 13,675 S 43.925 S 987.50 12% $ 13,675 S 11,138 S 26,263 $ 493.75 12% S 11,138 S 43.925 S 89,325 S 4,617.50 22% $ 43.925 $ 26,263 $ 48,963 $ 2,308.75 22% S 26.263 S 89,325 S 167,100 S 14.605.50 24% $ 89,325 $ 48,963 $ 87,850 $ 7,302.75 24% $ 48,963 S 167,100 S 211,150 S 33,271.50 32% S 167,100 $ 87,850 $ 109,875 $ 16,635.75 32% $ 87,850 S 211,150 $ 522,200 $ 47,367.50 35% $ 211,150 $ 109.875 $ 265,400 $ 23,683.75 35% $ 109,875 S 522.200 S 156,235.00 37% S 522,200 $ 265,400 S 78.117.50 37% S 265,400 Head of Household Head of Household SO S 0.00 S 10,050 0% SO $0 0% $ 9,325 S 0.00 SO S 24,150 S 0.00 S 10,050 10% $ 10,050 $ 9,325 $ 0.00 S 16,375 10% S 9,325 S 63.750 $ 1,410.00 12% $ 24.150 S 16,375 S 24,150 S 36,175 12% S 705.00 S 16,375 S 6,162.00 22% S 95,550 S 36,175 $ 63,750 $ 52,075 S 63,750 22% $ 3,081.00 S 36,175 24% S 95.550 S 173,350 $ 13,158.00 $ 95,550 S 52,075 24% $ 90,975 $ 6,579,00 $ 52,075 32% S 173,350 S 217,400 $ 31,830.00 S 173,350 $ 113,000 32% S 90,975 $ 15,915.00 S 90,975 $ 268,525 $ 113,000 35% $ 217,400 S 528,450 35% S 113,000 $ 217,400 S 45,926.00 $ 22,963.00 S 268.525 37% 37% S 528,450 S 154,793.50 $ 77,396.75 S 528,450 S 268,525 *