WkiverdtakeAssighmentsessionLocator assignmenttakeinprogress

WkiverdtakeAssighmentsessionLocator- assignment-take&inprogress-false; Federal Income Tax Withholding Bob Dunn\'s weekly gross earnings for the present week were $2,840. Dunn has two exemptions. Using the wage bracket withholding table below with a $63 standard withholding allowance for each exemption, what is Dunn\'s federal income tax withholding? Round your answer to two decimal places Table for Percentage Method of Withholding WEEKLY Payroll Period (a) SINGLE person (including head of household)- If the amount of wages (after subtracting withholding allowances) is:tax to withhold is: Not over $51.... The amount of income Over- $51 $198 $653 $1,533 $3,202 $6,916 But not over- $198 $653 $1,533 $3,202 $6,916 of excess over 10% $14.70 plus 15% $82.95 plus 25% $302.95 plus 28% $770.27 plus 33% $1,995.89 plus 35% $51 $198 $653 $1,533 $3,202 $6,916

Solution

Answer

gross earning = 2960

allowance 63 * 2 = 126

net after allowance = 2834

holding tax = 302.95 + (2834 - 1533) * 28 %

= 667.23