John Woods’ weekly gross earnings for the present week were $2,500. Woods has two exemptions. Using an $80 value for each exemption and the tax rate schedule below, what is Woods’ federal income tax withholding? Single person (including head of household) If amount of wages (after subtracting withholding allowance) is: The amount of income tax withholding is: Not over $43 $0 Over – But not over – of excess over – $43 –$222.......$0.00 plus 10% –$43 $222 –$767.......$17.90 plus 15% –$222 $767 –$1,796....$99.65 plus 25% –$767 $1,796 –$3,700....$356.90 plus 28% –$1,796 $3,700 –$7,992....$890.02 plus 33% –$3,700 $7,992 –$8,025....$2,306.38 plus 35% –$7,992 $8,025 .................$2,317.93 plus 39.6% –$8,025
John Woods’ weekly gross earnings for the present week were $2,500. Woods has two exemptions. Using an $80 value for each exemption and the tax rate schedule below, what is Woods’ federal income tax withholding? Single person (including head of household) If amount of wages (after subtracting withholding allowance) is: The amount of income tax withholding is: Not over $43 $0 Over – But not over – of excess over – $43 –$222.......$0.00 plus 10% –$43 $222 –$767.......$17.90 plus 15% –$222 $767 –$1,796....$99.65 plus 25% –$767 $1,796 –$3,700....$356.90 plus 28% –$1,796 $3,700 –$7,992....$890.02 plus 33% –$3,700 $7,992 –$8,025....$2,306.38 plus 35% –$7,992 $8,025 .................$2,317.93 plus 39.6% –$8,025
Chapter4: Income Tax Withholding
Section: Chapter Questions
Problem 3SSQ
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Question
John Woods’ weekly gross earnings for the present week were $2,500. Woods has two exemptions. Using an $80 value for each exemption and the tax rate schedule below, what is Woods’ federal income tax withholding?
| Single person (including head of household) | ||
| If amount of wages (after subtracting withholding allowance) is: |
The amount of income tax withholding is: |
|
| Not over $43 | $0 | |
| Over – | But not over – | of excess over – |
| $43 | –$222.......$0.00 plus 10% | –$43 |
| $222 | –$767.......$17.90 plus 15% | –$222 |
| $767 | –$1,796....$99.65 plus 25% | –$767 |
| $1,796 | –$3,700....$356.90 plus 28% | –$1,796 |
| $3,700 | –$7,992....$890.02 plus 33% | –$3,700 |
| $7,992 | –$8,025....$2,306.38 plus 35% | –$7,992 |
| $8,025 | .................$2,317.93 plus 39.6% | –$8,025 |
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