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Federal Income Tax Withholding Bob Wolfe's weekly gross earnings for the present week were $2,580. Wolfe...

Federal Income Tax Withholding

Bob Wolfe's weekly gross earnings for the present week were $2,580. Wolfe has four exemptions. Using the wage bracket withholding table in Exhibit 2 with a $75 standard withholding allowance for each exemption, what is Wolfe's federal income tax withholding? Round your answer to two decimal places.

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Answer #1

weekly gross earnings were $2,580

Less:- exemption ( 75 * 4 ) = $ 300

Wages after exemption = $ 2280

It falls in the bracket of 1692 - 3164

276.54 + ( 2280 - 1692 ) * 24 % = $ 417.66

Exhibit used :-

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