How much is the federal withholding percentage for a W-4 form with 2 allowances?

The Percentage Method subtracts from the total wage payment an allowance amount. The allowance amount is based on the value of one withholding allowance for the payroll period multiplied by the total withholding allowances from Form W-4.

For a weekly payroll period with two withholding allowances, the percentage computation figure is $140.38($70.19 x 2).

For a biweekly payroll period with 2 allowances, the percentage figure is $280.76 ($140.38 x 2).

The Percentage Method Amount for One Withholding Allowance Table gives withholding allowance figures for every payroll period (weekly, biweekly, semimonthly, monthly, quarterly, semiannually, annually, daily).

For more information, go to www.irs.gov for Publication 15-T (New Wage Withholding and Advance Earned Income Credit Payment Tables).