Question: Please show work, because I am wanting to learn how this is done! Company XYZ has a new employee that submitted form W-4 from 2020

Please show work, because I am wanting to learn how this is done!

Please show work, because I am wanting to learn how this isdone! Company XYZ has a new employee that submitted form W-4 from2020 He is married filing jointly and box 2 is not checked.

Company XYZ has a new employee that submitted form W-4 from 2020 He is married filing jointly and box 2 is not checked. The employer processes payroll automatically and he has paycheck of $1,500 and is paid semi-monthly Using the percentage method, the worksheet, and the correct table calculate the employee's federal withholding tax for each pay check. ***Enter the pay information into the highlighted cells next to the worksheet to figure federal income tax withholding. This method 1. Percentage Method Tables works for Forms W-4 from 2019 or earlier and Forms W-4 from 2020 or later. This method also works for any amount for Automated Payroll Systems of wages. If the Form W-4 is from 2019 or ealier, this method works for any number of withholding allowances If you have an automated payroll system, use the work- claimed. sheet below and the Percentage Method tables that follow Worksheet 1. Employer's Withholding Worksheet for Percentage Method Tables for Automated Payroll Systems Keep for Your Records 24 Enter the pay information into the highlighted cells next to the worksheet 1c $0.00 Table 3 Semiannually Quarterly Monthly Semimonthly Biweekly Weekly Daily 4 12 26 52 260 Step 1. Adjust the employee's wage amount 1a Enter the employee's total taxable wages this payroll period 1a $ 16 Enter the number of pay periods you have per year (see Table 3) 1b 1c Multiply the amount on line 1a by the number on line 1b $ If the employee HAS submitted a Form W-4 for 2020 or later, figure the Adjusted Annual Wage Amount as follows: 1d Enter the amount from Step 4(a) of the employee's Form W-4 1e Add lines 1c and 1d 1f Enter the amount from Step 4(b) of the employee's Form W-4 1f $ 19 If the box in Step 2 of Form W-4 is checked, enter-O-. If the box is not checked, enter $12,900 if the taxpayer is married filing jointly or $8,600 otherwise 1g 1h Add lines 1f and 1g 1h $ 11 Subtract line 1h from line 1e. If zero or less, enter -0. This is the Adjusted Annual Wage Amount $ If the employee HAS NOT submitted a Form W-4 for 2020 or later, figure the Adjusted Annual Wage Amount as follows: 1j Enter the number of allowances claimed on the employee's most recent Form W-4 1j 1k Multiply line 1j by $4,300 1k S 11 Subtract line 1k from line 1c. If zero or less, enter-O-. This is the Adjusted Annual Wage Amount $ 1d S 1e S $0.00 1i 11 Step 2. Figure the Tentative Withholding Amount based on the employee's Adjusted Annual Wage Amount; filing status (Step 1(c) of the 2020 Form W-4) or marital status (line 3 of Form W-4 from 2019 or earlier); and whether the box in Step 2 of 2020 Form W-4 is checked. Note. Don't use the Head of Household table if the Form W-4 is from 2019 or earlier. 2a Enter the employee's Adjusted Annual Wage Amount from line 1i or 11 above 2a S 2b Find the row in the appropriate Annual Percentage Method table in which the amount on line 2a is at least the amount in column A but less than the amount in column B, then enter here the amount from column A of that row 2b S 2c Enter the amount from column C of that row 2c $ 2d Enter the percentage from column D of that row 2d 2e Subtract line 2b from line 2a 2e $ 2f Multiply the amount on line 2e by the percentage on line 2d 21 S 29 Add lines 2c and 2 29 $ 2h Divide the amount on line 2g by the number of pay periods on line 1b. This is the Tentative Withholding Amount 2h $ Step 3. Account for tax credits 3a If the employee's Form W-4 is from 2020, enter the amount from Step 3 of that form; otherwise enter-O- 3b Divide the amount on line 3a by the number of pay periods on line 16 3c Subtract line 3b from line 2h. If zero or less, enter-O- $ 3b $ 30 $ $0.00 $0.00 Step 4. Figure the final amount to withhold 4a Enter the additional amount to withhold from the employee's Form W-4 (Step 4(c) of the 2020 form or line 6 on earlier forms) 4b Add lines 3c and 4a. This is the amount to withhold from the employee's wages this pay period 4a S $0.00 4b Company XYZ has a new employee that submitted form W-4 from 2020 He is married filing jointly and box 2 is not checked. The employer processes payroll automatically and he has paycheck of $1,500 and is paid semi-monthly Using the percentage method, the worksheet, and the correct table calculate the employee's federal withholding tax for each pay check. ***Enter the pay information into the highlighted cells next to the worksheet to figure federal income tax withholding. This method 1. Percentage Method Tables works for Forms W-4 from 2019 or earlier and Forms W-4 from 2020 or later. This method also works for any amount for Automated Payroll Systems of wages. If the Form W-4 is from 2019 or ealier, this method works for any number of withholding allowances If you have an automated payroll system, use the work- claimed. sheet below and the Percentage Method tables that follow Worksheet 1. Employer's Withholding Worksheet for Percentage Method Tables for Automated Payroll Systems Keep for Your Records 24 Enter the pay information into the highlighted cells next to the worksheet 1c $0.00 Table 3 Semiannually Quarterly Monthly Semimonthly Biweekly Weekly Daily 4 12 26 52 260 Step 1. Adjust the employee's wage amount 1a Enter the employee's total taxable wages this payroll period 1a $ 16 Enter the number of pay periods you have per year (see Table 3) 1b 1c Multiply the amount on line 1a by the number on line 1b $ If the employee HAS submitted a Form W-4 for 2020 or later, figure the Adjusted Annual Wage Amount as follows: 1d Enter the amount from Step 4(a) of the employee's Form W-4 1e Add lines 1c and 1d 1f Enter the amount from Step 4(b) of the employee's Form W-4 1f $ 19 If the box in Step 2 of Form W-4 is checked, enter-O-. If the box is not checked, enter $12,900 if the taxpayer is married filing jointly or $8,600 otherwise 1g 1h Add lines 1f and 1g 1h $ 11 Subtract line 1h from line 1e. If zero or less, enter -0. This is the Adjusted Annual Wage Amount $ If the employee HAS NOT submitted a Form W-4 for 2020 or later, figure the Adjusted Annual Wage Amount as follows: 1j Enter the number of allowances claimed on the employee's most recent Form W-4 1j 1k Multiply line 1j by $4,300 1k S 11 Subtract line 1k from line 1c. If zero or less, enter-O-. This is the Adjusted Annual Wage Amount $ 1d S 1e S $0.00 1i 11 Step 2. Figure the Tentative Withholding Amount based on the employee's Adjusted Annual Wage Amount; filing status (Step 1(c) of the 2020 Form W-4) or marital status (line 3 of Form W-4 from 2019 or earlier); and whether the box in Step 2 of 2020 Form W-4 is checked. Note. Don't use the Head of Household table if the Form W-4 is from 2019 or earlier. 2a Enter the employee's Adjusted Annual Wage Amount from line 1i or 11 above 2a S 2b Find the row in the appropriate Annual Percentage Method table in which the amount on line 2a is at least the amount in column A but less than the amount in column B, then enter here the amount from column A of that row 2b S 2c Enter the amount from column C of that row 2c $ 2d Enter the percentage from column D of that row 2d 2e Subtract line 2b from line 2a 2e $ 2f Multiply the amount on line 2e by the percentage on line 2d 21 S 29 Add lines 2c and 2 29 $ 2h Divide the amount on line 2g by the number of pay periods on line 1b. This is the Tentative Withholding Amount 2h $ Step 3. Account for tax credits 3a If the employee's Form W-4 is from 2020, enter the amount from Step 3 of that form; otherwise enter-O- 3b Divide the amount on line 3a by the number of pay periods on line 16 3c Subtract line 3b from line 2h. If zero or less, enter-O- $ 3b $ 30 $ $0.00 $0.00 Step 4. Figure the final amount to withhold 4a Enter the additional amount to withhold from the employee's Form W-4 (Step 4(c) of the 2020 form or line 6 on earlier forms) 4b Add lines 3c and 4a. This is the amount to withhold from the employee's wages this pay period 4a S $0.00 4b

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