Moravanti Italian Imports has four employees and pays biweekly. Assume that box 2 is not checked for L. Torabi and R. Beninati and is checked for G. Fisher and J. Tillman. Required: On Form W-4, complete Step 2, the Multiple Jobs Worksheet (when applicable) to obtain the amount for Step 4(c). Calculate the federal income tax withholding using the wage-bracket tables with Forms W-4 from 2020 or later in Appendix C Note: Round your intermediate calculations and final answers to 2 decimal places. Employee L. Torabi Filing Status Spouse Annual Salary Federal Income S Dependents None Annual Salary and Pay Frequency Tax per Period $ 47,900 Not applicable R. Beninati S One Other $ 56,900 Not applicable G. Fisher MJ Three <17 $ 28,000 $40,000 per biweekly J. Tillman MJ Two <17 $ 34,700 $20,820 per weekly
Moravanti Italian Imports has four employees and pays biweekly. Assume that box 2 is not checked for L. Torabi and R. Beninati and is checked for G. Fisher and J. Tillman. Required: On Form W-4, complete Step 2, the Multiple Jobs Worksheet (when applicable) to obtain the amount for Step 4(c). Calculate the federal income tax withholding using the wage-bracket tables with Forms W-4 from 2020 or later in Appendix C Note: Round your intermediate calculations and final answers to 2 decimal places. Employee L. Torabi Filing Status Spouse Annual Salary Federal Income S Dependents None Annual Salary and Pay Frequency Tax per Period $ 47,900 Not applicable R. Beninati S One Other $ 56,900 Not applicable G. Fisher MJ Three <17 $ 28,000 $40,000 per biweekly J. Tillman MJ Two <17 $ 34,700 $20,820 per weekly
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question

Transcribed Image Text:Moravanti Italian Imports has four employees and pays biweekly. Assume that box 2 is not checked for L. Torabi and R. Beninati and is
checked for G. Fisher and J. Tillman.
Required:
On Form W-4, complete Step 2, the Multiple Jobs Worksheet (when applicable) to obtain the amount for Step 4(c). Calculate the federal
income tax withholding using the wage-bracket tables with Forms W-4 from 2020 or later in Appendix C
Note: Round your intermediate calculations and final answers to 2 decimal places.
Spouse Annual Salary
Federal Income
Employee
L. Torabi
Filing Status
S
Dependents
None
Annual Salary
and Pay Frequency
Tax per Period
$
47,900
Not applicable
R. Beninati
S
One Other
$
56,900
Not applicable
G. Fisher
MJ
Three <17
$
28,000
$40,000 per biweekly
J. Tillman
MJ
Two <17
$
34,700
$20,820 per weekly
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