Question

Carson Holiday has a federal tax levy of $4,291.00 against him. If Holiday is married with...

Carson Holiday has a federal tax levy of $4,291.00 against him. If Holiday is married with four personal exemptions and had a take-home pay of $1,110.00 this week, how much would his employer take from his pay to satisfy part of the tax levy? Round intermediate calculations and your final answer to the nearest cent. $

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Homework Answers

Answer #1

Solution :-

Particular Amount
Home pay $1,110.00
Standard deduction $12,600
Personal exemption

= 4,050 * 4

= $16,200
Tax for per week

= [ 12,600 + 16,200 ] / 52 weeks

= 28,800 / 52

= $553.84
Federal tax levy

= $1,110.00 - $553.84

= $556.15

= $556

Note :-

Here any year not mentioned . that's i am considered 2016 tax schedules. And standard deduction and personal exemptions taken from the 2016 tax schedules . if you have any doubt please ask me in comment box.But please don't give thumb down.

THANK YOU.

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