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Use (a) the percentage method and (b) the wage-bracket method to compute the federal income...

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Accounting

Use (a) the percentage method and (b) the wage-bracket method to compute the federal income taxes to withind 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
No. of
Filing
Status
s
MF]
MF]
MFJ
withholding
Allowances
N/A
N/A
1,365 weekly
N/A
1,775 biweekly
N/A
N/A
Gross Wage
Percentage
or Salary
$675 weekly
S
Starr, P.
McNeil, S.
Harrison, W.
Smythe, M.
Employee Lennon, A. Starr, P. McNeil, S. Harrison, W. Smythe, M.
Method
s
2,480 semimonthly
5,380 monthly
Wage-Bracket
Method
image

Answer & Explanation Solved by verified expert
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