Naomi received weekly wages of \( \$ 1,185.58 \). She is married and is entitled to 7 withholding allowances. How much income tax will be withheld, based on the percentage method tables in Exhibits \( 9-1 \) and \( 9-2 \) ? Select one: a. \( \$ 50.89 \) b. \( \$ 62.60 \) c. \( \$ 54.19 \) d. \( \$ 115.24 \)
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To determine the amount of income tax that will be withheld from Naomi’s weekly wages, we can refer to the IRS percentage method tables relevant to her situation, taking into account her weekly wages and the number of withholding allowances. 1. **Calculate her withholding allowances**: Each allowance is subtracted from her total income when calculating tax. With 7 allowances, assuming the allowance amount is a standard value (e.g., around $89.90 for 2023), this would total approximately $629.30. Thus, we compute \( \$ 1,185.58 - \$ 629.30 = \$ 556.28 \) for taxable income. 2. **Consult the tax tables**: Based on the brackets provided by the IRS, we can then match her taxable income to the specified tax percentage. Without the exact tax tables, typically, the tax for this range may fall about 10-12% or possibly higher depending on the yearly tax structure change. For the sake of this example, let's arbitrarily say it hits at roughly 12% for an income of $556.28, which would yield around \$66.75. After considering other potential minimums or maximums depending on the bracket entry, the option most closely aligning to this result might be **b. \( \$ 62.60\)**. If the provided options were not directly from table references, caregivers should always verify with updated tax documentation or tools for the correct figure!