Question

Robert notices on his paystub that he has $78 withheld for FIT. He is paid weekly. How much is withheld each year from Robert's paychecks for Federal Income Tax?

a) $4,056
b) $3,876
c) $4,488
d) $4,104

Answer 1

Robert has $78 withheld weekly for Federal Income Tax. Multiplying this amount by the 52 weeks in a year gives us the total yearly withholding of $4,056.

Step-by-step explanation:

The question you've posed revolves around calculating the total amount withheld from Robert's paychecks for Federal Income Tax (FIT) within a year. Since he has $78 withheld for FIT weekly, we can calculate the annual withholding by multiplying this weekly amount by the number of weeks in a year.

Here's the step-by-step calculation:

• Determine the weekly FIT withholding: $78
• Calculate the number of weeks in a year: 52
• Multiply the weekly withholding by the number of weeks: $78 x 52 = $4,056

So, the total amount withheld from Robert's paychecks for Federal Income Tax every year is $4,056.