Calculate federal withholding rates from tax table?

[charlesstricklin]

I'd like to calculate the amount of withholding for the federal taxes based on the current IRS rates. I could use a nested IF statement, but I'd prefer something using the actual table provided by the IRS, making it easier to update when the new tax codes come out.

To wit, the single, biweekly withholding table:

	A	B	C
1	Amount	Base	Percent
2	$96.00	-	10%
3	$480.00	$38.40	15%
4	$1,656.00	$214.80	25%
5	$3,877.00	$770.05	28%
6	$7,983.00	$1,919.73	33%
7	$17,242.00	$7,975.20	35%
8	$17,313.00	$5,000.05	40%

<tbody>
</tbody>

So, if a person's biweekly gross income is $2,000.00, they'd be taxed based on line 4:

$214.80 + (25% * ($2,000.00 - $1,656.00))

$214.80 + (25% * $344.00)

$214.80 + (25% * $344.00)

$214.80 + $86

$300.80

So, they'd be taxes $330.80 on a biweekly gross income of $2,000.00

If there a calculation to handle this table data?

 

[joeu2004]

PS....

Also, given the example, the correct taxes withheld should be $316.15?

Sure; do the math. 198.40 + 25%*(2000-1529) = 198.40 + 25%*471 = 198.40 + 117.75 = 316.15.

I keep wondering why you asked such an obvious question. Why are you asking about the withholding calculation?

If you are double-checking your withholding by an employer, remember that in all of my calculation, I assume that $2000 is the taxable wages, not the gross wages as you called it in your original posting.

As I explained previously, if $2000 is truly your gross wages, it probably should be reduced by at least $153.80 (1 allowance) in order to calculate withholding.

So in my examples, G1 should be $1846.20, not $2000.

Then the withholding would be 198.40 + 25%*(1846.20-1529.00) = 198.40 + 25%*317.20 = 198.40 + 79.30 = 277.70.

(Unless you filed a W-4 with 0 allowances. Did you?)