Use (a) the percentage method and (b) the wage-bracket method to compute the federal income taxes to withhold from the wages or salaries of each employee. Enter all amounts as positive numbers. Round your calculations and final answers to the nearest cent. As we go to press, the federal income tax rates for 2021 are being determined by budget talks in Washington and not available for publication. For this edition, the 2020 federal income tax tables for Manual Systems with Forms W-4 from 2020 or later with Standard Withholding and 2020 FICA rates have been used. Click here to access the Percentage Method Tables. Click here to access the Wage-Bracket Method Tables. Amount to Be Withheld Filing No. of Withholding Gross Wage Employee Status Allowances or Salary Method Percentage Wage-Bracket Method Lennon, A. MFJ N/A $675 weekly Starr, P. HH N/A 1,929 weekly McNeil, S. MFJ N/A 1,775 biweekly Harrison, W. HH N/A 2,580 semimonthly Smythe, M. HH N/A 5,380 monthly

PAYROLL ACCT.,2019 ED.(LL)-TEXT
19th Edition
ISBN:9781337619783
Author:BIEG
Publisher:BIEG
Chapter5: Unemployment Compensation Taxes
Section: Chapter Questions
Problem 12PB
Question

please answer in text form and in proper format answer with must explanation , calculation for each part and steps clearly

Use (a) the percentage method and (b) the wage-bracket method to compute the federal income taxes to withhold
from the wages or salaries of each employee. Enter all amounts as positive numbers. Round your calculations
and final answers to the nearest cent.
As we go to press, the federal income tax rates for 2021 are being determined by budget talks in
Washington and not available for publication. For this edition, the 2020 federal income tax tables for
Manual Systems with Forms W-4 from 2020 or later with Standard Withholding and 2020 FICA rates have
been used.
Click here to access the Percentage Method Tables.
Click here to access the Wage-Bracket Method Tables.
Amount to Be
Withheld
Filing
No. of
Withholding
Gross Wage
Employee
Status
Allowances
or Salary
Method
Percentage Wage-Bracket
Method
Lennon, A.
MFJ
N/A
$675 weekly
Starr, P.
HH
N/A
1,929 weekly
McNeil, S.
MFJ
N/A
1,775 biweekly
Harrison, W.
HH
N/A
2,580 semimonthly
Smythe, M.
HH
N/A
5,380 monthly
Transcribed Image Text:Use (a) the percentage method and (b) the wage-bracket method to compute the federal income taxes to withhold from the wages or salaries of each employee. Enter all amounts as positive numbers. Round your calculations and final answers to the nearest cent. As we go to press, the federal income tax rates for 2021 are being determined by budget talks in Washington and not available for publication. For this edition, the 2020 federal income tax tables for Manual Systems with Forms W-4 from 2020 or later with Standard Withholding and 2020 FICA rates have been used. Click here to access the Percentage Method Tables. Click here to access the Wage-Bracket Method Tables. Amount to Be Withheld Filing No. of Withholding Gross Wage Employee Status Allowances or Salary Method Percentage Wage-Bracket Method Lennon, A. MFJ N/A $675 weekly Starr, P. HH N/A 1,929 weekly McNeil, S. MFJ N/A 1,775 biweekly Harrison, W. HH N/A 2,580 semimonthly Smythe, M. HH N/A 5,380 monthly
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