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Answer :
To calculate federal income tax withheld, use the Percentage Method Tables based on filing status and income. Use an online tax calculator or refer to the latest tax tables for accurate results.
To calculate the federal income tax withheld from Morgan's paycheck under the given conditions, we need to use the Percentage Method Tables for Automated Systems. The amount of federal income tax withheld will depend on Morgan's filing status, number of dependents, and any additional withholding requested.
a. Morgan is single and has no dependents:
Step 1: Calculate the annual income:
Annual Income = Weekly Income × Number of Weeks in a Year
Annual Income = $3,120 × 52 weeks
Step 2: Determine the annual withholding amount from the Percentage Method Tables based on the annual income and filing status.
b. Morgan is married (spouse does not work) and claims two dependents under the age of 17:
Step 1: Calculate the annual income (same as in part a).
Step 2: Adjust the annual income by claiming standard deductions and exemptions based on the filing status and number of dependents.
Step 3: Determine the annual withholding amount from the Percentage Method Tables based on the adjusted annual income and filing status.
c. Morgan is single, claims no dependents, but wants $50 in additional withholding:
Step 1: Calculate the annual income (same as in part a).
Step 2: Determine the annual withholding amount from the Percentage Method Tables based on the annual income and filing status.
Step 3: Subtract the additional withholding amount ($50) from the calculated annual withholding to find the final federal income tax withheld.
Please note that the exact calculations will depend on the specific income ranges and tax rates provided in the Percentage Method Tables for Automated Systems. For accurate results, it is best to refer to the most recent version of the tax tables or use an online tax calculator.
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