Instruction 3-1 Use these tax rates and taxable wage: OASDI—(Employees\' and Emp
ID: 2450062 • Letter: I
Question
Instruction 3-1 Use these tax rates and taxable wage: OASDI—(Employees' and Employers' 6.2%; Self-Employed 12.4%) on first $113,700. HI—(Employees' and Employers' 1.45%; Self-Employed 2.9%) on all taxable wages. Note: Employees' supplemental HI rate of 0.9% on wages in excess of $200,000 is not applicable. Refer to Instruction 3-1. During 20--, Garr was paid a weekly salary of $2,300. The amount of FICA to be withheld from the following payments is: OASDI HI a) For the 50th week __________ __________ b) For the 51st week __________ __________ c) For the 52nd week __________ __________
Explanation / Answer
Answer:a) =$2300*50=115000
OASDI =1300*6.2%=80.6
HI=2300*1.45%=33.35
b) =$2300*51=117300
OASDI =3600*6.2%=223.2
HI=2300*1.45%=33.35
c) =$2300*52=119600
OASDI =5900*6.2%=365.8
HI=2300*1.45%=33.35