1: Stephanie Williams files as single on her tax return and earned weekly gross pay of $700. For each pay period she makes a flexible spending account contribution of 7% of gross pay. Stephanie did not enter any information in steps 2-4 of the form Federal income tax withholding S 2 Mo Fangia files as single on his tax return and earned weekly gross pay of $1020. He does not make any retirement plan contributions Mo entered $30 on line 4c of Form W-4 and did not enter any information in steps 2 & 3 of the form Federal income tax withholding S 3: Michaela Sampson files as married ting jointly on her tax return and earned weekly gross pay of $1580. For each pay period she makes a 401(k) contribution of 4% of gross pay. Michaela checked box 2c on Form W-4, entered $2000 in step 3 of the form, and did not enter any information in step 4 of the form Federal income tax withholding $ Tentative Federal Income Tax Withholding -S
1: Stephanie Williams files as single on her tax return and earned weekly gross pay of $700. For each pay period she makes a flexible spending account contribution of 7% of gross pay. Stephanie did not enter any information in steps 2-4 of the form Federal income tax withholding S 2 Mo Fangia files as single on his tax return and earned weekly gross pay of $1020. He does not make any retirement plan contributions Mo entered $30 on line 4c of Form W-4 and did not enter any information in steps 2 & 3 of the form Federal income tax withholding S 3: Michaela Sampson files as married ting jointly on her tax return and earned weekly gross pay of $1580. For each pay period she makes a 401(k) contribution of 4% of gross pay. Michaela checked box 2c on Form W-4, entered $2000 in step 3 of the form, and did not enter any information in step 4 of the form Federal income tax withholding $ Tentative Federal Income Tax Withholding -S
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:PSa 3-7 Calculate Federal Income Tax Withholding Using the Percentage Method (2020/2021 Form W-4)
For each employee listed, use the percentage method to calculate federal income tax withholding for an employee who has submitted a 2020 Form W-4. Refer to
Publication 15-T.
1: Stephanie Williams files as single on her tax return and earned weekly gross pay of $700. For each pay period she makes a flexible spending account contribution of 7%
of gross pay. Stephanie did not enter any information in steps 2-4 of the form.
Federal income tax withholding S
2 Mo Fangia files as single on his tax return and earned weekly gross pay of $1020. He does not make any retirement plan contributions. Mo entered $30 on line 4c of
Form W-4 and did not enter any information in steps 2 & 3 of the form
Federal income tax withholding S
3: Michaela Sampson files as mamed fing jointly on her tax return and earned weekly gross pay of $1580. For each pay period she makes a 401(k) contribution of 4% of
gross pay. Michaela checked box 20 on Form W-4, entered $2000 in step 3 of the form, and did not enter any information in step 4 of the form
Federal income tax withholding S
Tentative Federal Income Tax Withholding=$
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