Question

Federal Income Tax Withholding

Bob Wolfe's weekly gross earnings for the present week were $2,500. Wolfe has three exemptions. Using the wage bracket withholding table in Exhibit 2 with a $75 standard withholding allowance for each exemption, what is Wolfe's federal income tax withholding? Round your answer to two decimal places.

$

Answer 1

HI

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Answer is highlighted in yellow: Exhibit is missing, used respective table: Solution: Withhold for federal income tax Particulars Single, 3 allowance Wages - Weekly One Allowance - Weekly Allowance Claimed Tax To be withheld on 2 decimal $2,500.00 $ 75.00 3 $ 225.00 $2,275.00 $ 491.02 356.90 + (2275-1796)*28% As per Percentage Method $ 491.02