Karen Most has a federal tax levy of $2,100.50 against her. If Most is single with two personal exemptions and had a take-home pay of $499.00 this week, how much would her employer take from her pay to satisfy part of the tax levy? Round your intermediate calculations and answer to the nearest cent. $_________
Karen Most has a federal tax levy of $2,100.50 against her. If Most is single with two personal exemptions and had a take-home pay of $499.00 this week, how much would her employer take from her pay to satisfy part of the tax levy? Round your intermediate calculations and answer to the nearest cent. $_________
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Karen Most has a federal tax levy of $2,100.50 against her. If Most is single with two personal exemptions and had a take-home pay of $499.00 this week, how much would her employer take from her pay to satisfy part of the tax levy?
Round your intermediate calculations and answer to the nearest cent.
$_________
Transcribed Image Text:Figure 6.3
2019 Table for Amount Exempt for Tax Levy (Single Person)
Filing Status: Single
Pay
Number of Exemptions Claimed on Statement
Period
1
2
3
4
5
More Than 5
46.92 plus 16.15 for
Daily
46.92
63.07
79.22
95.37
111.52
127.67
each dependent
234.62 plus 80.77 for
Weekly
234.62
315,39
396.16
476.93
557.70
638.47
each dependent
469.23 plus 161.54 for
Biweekly
1115.39 1276.93
469.23
630.77
792.31
953.85
each dependent
508.33 plus 175 for
Semimonthly
508.33
683.33
858.33
1033.33 1208.33 1383.33
each dependent
1016.67 plus 350 for
Monthly
1016.67 1366.67 1716.67 2066.67 2416.67 2766.67
each dependent
Source: Internal Revenue Service.
Karen Most has a federal tax levy of $2,100.50 against her. If Most is single with two personal exemptions and had a take-home pay of $499.00 this week, how much
would her employer take from her pay to satisfy part of the tax levy?
Round your intermediate calculations and answer to the nearest cent.
-
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