Withholding Methods (LO 9.1)Sophie is a single taxpayer. For the first payroll period in July 2020, she is paid wages of $2,200 monthly. Sophie claims one allowance on her pre-2020 Form W-4.Click here to access the withholding tables.IRS Publication 15-T, Federal Income Tax Withholding MethodPay period2020 Allowance AmountWeekly$ 83 Biweekly165 Semimonthly179 Monthly358 Quarterly1,075 Semiannually2,150 Annually4,300 Round intermediate computations and your final answer to two decimal places. c. Use the percentage method assuming Sophie completed a 2020 Form W-4 and checked only the single box in Step 1(c).$fill in the blank f38992037fa2fd3_1 d. Use the wage bracket method using the same assumptions in part c of this question.$fill in the blank 5148e2012058f9f_1 Check My Work8 more Check My Work uses remaining.

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Answered: c. Use the percentage method assuming…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Withholding Methods (LO 9.1)

Sophie is a single taxpayer. For the first payroll period in July 2020, she is paid wages of $2,200 monthly. Sophie claims one allowance on her pre-2020 Form W-4.

Click here to access the withholding tables.

IRS Publication 15-T, Federal Income Tax Withholding Method

Pay period 2020 Allowance Amount

Weekly $ 83

Biweekly 165

Semimonthly 179

Monthly 358

Quarterly 1,075

Semiannually 2,150

Annually 4,300

Round intermediate computations and your final answer to two decimal places.

c. Use the percentage method assuming Sophie completed a 2020 Form W-4 and checked only the single box in Step 1(c).
$fill in the blank f38992037fa2fd3_1

d. Use the wage bracket method using the same assumptions in part c of this question.
$fill in the blank 5148e2012058f9f_1

Check My Work8 more Check My Work uses remaining.

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