Fred's gross annual salary is $128,116 with biweekly paychecks. If he is single with one dependent child, compute the biweekly withholding his employer will send to the IRS. Use the following information: 2023 Head of Household Person Biweekly Withholding Table Taxable Wages $0-$842 $842 - $1,479 $1,479 - $3,269 $3,269-$4,708 $4,708 - $8,225 $8,225-$10,215 $10,215-$24,279 $24,279 or more Biweekly allowance: $165.38 per person. Round your answer to the nearest dollar. ● Wages Withholding $0.00 $0.00 plus 10% of amount exceeding $842 $63.70 plus 12% of amount exceeding $1,479 $278.50 plus 22% of amount exceeding $3,269 $595.08 plus 24% of amount exceeding $4,708 $1,439.16 plus 32% of amount exceeding $8,225 $2,075.96 plus 35% of amount exceeding $10,215 $6,998.36 plus 37% of amount exceeding $24,279
Fred's gross annual salary is $128,116 with biweekly paychecks. If he is single with one dependent child, compute the biweekly withholding his employer will send to the IRS. Use the following information: 2023 Head of Household Person Biweekly Withholding Table Taxable Wages $0-$842 $842 - $1,479 $1,479 - $3,269 $3,269-$4,708 $4,708 - $8,225 $8,225-$10,215 $10,215-$24,279 $24,279 or more Biweekly allowance: $165.38 per person. Round your answer to the nearest dollar. ● Wages Withholding $0.00 $0.00 plus 10% of amount exceeding $842 $63.70 plus 12% of amount exceeding $1,479 $278.50 plus 22% of amount exceeding $3,269 $595.08 plus 24% of amount exceeding $4,708 $1,439.16 plus 32% of amount exceeding $8,225 $2,075.96 plus 35% of amount exceeding $10,215 $6,998.36 plus 37% of amount exceeding $24,279
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Fred's gross annual salary is $128,116 with biweekly paychecks. If he is single with one
dependent child, compute the biweekly withholding his employer will send to the IRS.
Use the following information:
2023 Head of Household Person Biweekly Withholding Table
Taxable Wages
$0-$842
$842-$1,479
$1,479-$3,269
$3,269 - $4,708
$4,708 - $8,225
$8,225 - $10,215
$10,215 - $24,279
$24,279 or more
Biweekly allowance: $165.38 per person.
Round your answer to the nearest dollar.
Wages Withholding
$0.00
$0.00 plus 10% of amount exceeding $842
$63.70 plus 12% of amount exceeding $1,479
$278.50 plus 22% of amount exceeding $3,269
$595.08 plus 24% of amount exceeding $4,708
$1,439.16 plus 32% of amount exceeding $8,225
$2,075.96 plus 35% of amount exceeding $10,215
$6,998.36 plus 37% of amount exceeding $24,279](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fce11069a-aace-47a2-a949-a7bf4eaf2074%2F53865a53-6d43-4b5f-b476-895aee3f6e81%2Fltwjqin_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Fred's gross annual salary is $128,116 with biweekly paychecks. If he is single with one
dependent child, compute the biweekly withholding his employer will send to the IRS.
Use the following information:
2023 Head of Household Person Biweekly Withholding Table
Taxable Wages
$0-$842
$842-$1,479
$1,479-$3,269
$3,269 - $4,708
$4,708 - $8,225
$8,225 - $10,215
$10,215 - $24,279
$24,279 or more
Biweekly allowance: $165.38 per person.
Round your answer to the nearest dollar.
Wages Withholding
$0.00
$0.00 plus 10% of amount exceeding $842
$63.70 plus 12% of amount exceeding $1,479
$278.50 plus 22% of amount exceeding $3,269
$595.08 plus 24% of amount exceeding $4,708
$1,439.16 plus 32% of amount exceeding $8,225
$2,075.96 plus 35% of amount exceeding $10,215
$6,998.36 plus 37% of amount exceeding $24,279
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