refer to irs 2022 publication 15 - t to answer the following questions: cheyenne is paid $10,162.62 monthly…

refer to irs 2022 publication 15 - t to answer the following questions: cheyenne is paid $10,162.62 monthly as a regional manager for really ritzy restaurants. she is married filing jointly, according to her 2022 w - 4. determine cheyennes adjusted annual wage amount. assume a standard deduction of $12,900 and no additional income to report. adjusted annual wage amount: $109051.44 using the standard withholding rate schedule on p. 10 of publication 15 - t, calculate the federal income tax withholding per pay period. monthly fit withholding: $

refer to irs 2022 publication 15 - t to answer the following questions: cheyenne is paid $10,162.62 monthly as a regional manager for really ritzy restaurants. she is married filing jointly, according to her 2022 w - 4. determine cheyennes adjusted annual wage amount. assume a standard deduction of $12,900 and no additional income to report. adjusted annual wage amount: $109051.44 using the standard withholding rate schedule on p. 10 of publication 15 - t, calculate the federal income tax withholding per pay period. monthly fit withholding: $

Answer

Explanation:

Step1: Identify annual wage

Annual wage = Monthly wage $\times12$. Given monthly wage is $$10,162.62$, so annual wage $= 10162.62\times12=$121951.44$.

Step2: Calculate adjusted annual wage

Adjusted annual wage = Annual wage - Standard - deduction. Standard - deduction is $$12900$. So adjusted annual wage $=121951.44 - 12900=$109051.44$.

Step3: Calculate federal income - tax withholding per pay period

Since we need to use the standard withholding rate schedule on p. 10 of Publication 15 - T, we first note that for married - filing - jointly, we look up the appropriate tax brackets and rates in the schedule. However, without the actual schedule here, we assume a general approach. First, we find the taxable income per month. Taxable income per month $=\frac{109051.44}{12}\approx$9087.62$. Then we apply the tax rates from the schedule. Let's assume the tax rate for this income level is $t$ (from the schedule). Monthly FIT withholding $= 9087.62\times t$. For simplicity, if we assume a flat - rate approximation (which is not accurate in real - life complex tax schedules), and assume a rate of $15%$ (this is just for illustration purposes as the real rate should be from the schedule), then Monthly FIT withholding $=9087.62\times0.15=$1363.14$.

Answer:

$1363.14$ (Note: This answer is based on an assumed tax rate for illustration as the actual rate should be taken from the IRS Publication 15 - T schedule)