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The amount withheld for federal tax depends on the gross salary and the number of exemptions true or false?
Wiki User
∙ 14y ago
False.
The amount of income tax withheld depends on gross salary, filing status (single or married), and the number of withholding allowances claimed on Form W-4.
Form W-4 is a form the employee fills out and gives to the employer. You claim withholding allowances on Form W-4, not exemptions. Many people mistakenly believe that you claim exemptions on Form W-4 which is why most people have far too much withheld. Exemptions are just one factor in determining how many withholding allowances you are allowed to claim. See the worksheet that is in the W-4 instructions or use the IRS calculator here:
http://www.irs.gov/individuals/article/0,,id=96196,00.html
The amount of Social Security and Medicare tax withheld depends only on gross salary.
Also remember that the amount withheld is not the actual amount of tax you owe. The actual amount you owe is calculated when you fill out Form 1040 at the end of the year. When you file Form 1040, you get a refund if too much was withheld or you have to pay extra if not enough was withheld.
Wiki User
∙ 14y ago
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What is the amount of federal income taxes withheld recorded as?
$1
What is the number that you calculate on form w-4 that reduces the amount of tax withheld from your paycheck?
The number of exemptions would have to be increased for this purpose.
How much of your federal income tax withheld do you receive back in tax returns?
The amount of withheld federal income tax that is returned to you depends on a variety of factors. Your yearly income, marital status, number of dependents, and expenses are all used to calculate your tax return.
What is the percentage of federal tax withheld on an annual income of 25000 dollars?
The amount of withholding is determined by the filing status and number of exemptions you listed on your most recent W-4 form that you completed for your employer. There is no flat percentage of income for withholding.
Income tax withheld from each paycheck and sent tot he state or federal government?
The correct amount that was withheld for each one will be sent separately to the state and to the federal government.
What are used to determine the amount of federal taxes withheld from a paycheck?
what is used to determine the amount of federal taxes withheld from a paycheck
What is the amount of federal income taxes withheld recorded as?
$1
What is a withholding tax used for?
Withheld taxes are used for several things. City taxes and state taxes are withheld from one's paycheck. Federal taxes are also withheld from your check. That amount depends on number of kids and if one is married. It also depends on if one is head of household.
What is the number that you calculate on form w-4 that reduces the amount of tax withheld from your paycheck?
The number of exemptions would have to be increased for this purpose.
Income tax withheld from each paycheckand sent to the state or federal government?
You do NOT have any amount that is withheld from your net take home paycheck after it is issued to you. The amount that is withheld is calculated on your gross earnings for the pay period and is a advance payment of your possible future income tax liability. After your income tax return is completed correctly and IF the amount that is withheld is more than your federal or state income liability then you will receive a refund of the over withheld amount.
How much of your federal income tax withheld do you receive back in tax returns?
The amount of withheld federal income tax that is returned to you depends on a variety of factors. Your yearly income, marital status, number of dependents, and expenses are all used to calculate your tax return.
What is the percentage of federal tax withheld on an annual income of 25000 dollars?
The amount of withholding is determined by the filing status and number of exemptions you listed on your most recent W-4 form that you completed for your employer. There is no flat percentage of income for withholding.
Income tax withheld from each paycheck and sent tot he state or federal government?
The correct amount that was withheld for each one will be sent separately to the state and to the federal government.
Can you have cash and file bankruptcy?
Yes, but the amount depends on the exemptions that apply in your state.
Can states propose bills to decrease the amount of exemptions they allow or can they only propose bills to increase the amount of exemptions?
A state legislature can enact laws increasing or decreasing exemption amounts, add exemptions or delete exemptions that have already been established. Most laws both state and federal cannot usually be enforced retroactively.
Your paychecks gross was 2903.00 and 520.00 was taken out in federal tax was this right?
It is possible that the withheld amount is correct. You will have to get with the payroll department and ask them if the correct amount has been withheld from your gross pay before the check was printed for your net take home pay amount.
When does FICA stop being withheld in paychecks?
When you have one employer the amount of FICA for your social security would stop once your wages with the withheld social security amount reach 106800 and social security amount withheld would be 6621.60 If you have more than one employer and your combined wages reported on your W-2 are more than the 106800 amount and your the withheld social security amount is more than the 6621.60 then you would get a tax credit for the amount that is over the 6621.60 on your federal income tax return.
