The amount that is withheld weekly for federal income tax is $52.25
Federal Insurance Contribution Act is the legal organization used in the United States which contain the rules and regulations applied for calculating payroll taxes on the paychecks of the employee. The tax process is contributed by both the employees as well as the employers for funding the social security and Medicare programs.
The rate of federal tax withheld for the weekly paycheck is:
= 6.2% of social security + 1.45% for medicare
= 7.65% of the gross weekly pay.
If Beverly Hibbs earns $683.00 a week, the amount withheld weekly by the Federal income tax is:
= 0.0765 × 683
= $52.25
Learn more about federal income tax here:
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