question
Which of the following deposit requirements pertains to a monthly depositor who has accumulated employment taxes of $2,900 at the end of October?
answer
The taxes must be deposited on or before November 15.
question
Which of the following deposit requirements pertains to a nonagricultural employer who has employer FICA taxes and withheld employee FICA taxes and income taxes of $125,000 at the end of payday on Friday, August 14, 20--?
answer
The taxes must be deposited by the close of the next banking day.
question
To be designated a semiweekly depositor, how much in employment taxes would an employer have reported for the four quarters in the lookback period?
answer
More than $50,000.
question
FICA defines all of the following as employees except:
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question
The FICA tax rates for the self-employed are:
answer
None of the choices are correct; (it's 12.4 & 2.9).
question
Each of the following items is accurately defined under FICA as taxable wages except:
answer
value of meals furnished employees for the employer's convenience.
question
FICA excludes from coverage all of the following kinds of employment except:
answer
federal government secretaries hired in 1990.
question
Which of the following deposit requirements pertains to a semiweekly depositor who has accumulated employment taxes of $17,500 on payday, Saturday, May 16, 20--?
answer
The taxes must be deposited on or before Friday, May 22.
question
The taxes imposed under the Social Security Act consist of: a.OASDI and HI taxes. b.two taxes on employers. c.two taxes on employees. d.taxes on the net earnings of the self-employed. e.
answer
All of these choices are correct.
question
Ashe, an employer, has made timely deposits of FICA taxes and withheld income taxes during the first quarter of 2017. The latest date on which Ashe may file Form 941 is:
question
The OASDI taxable wage base is correctly defined as:
answer
The maximum amount of wages during a calendar year that is subject to the OASDI tax.
question
FICA defines all of the following as wages except:
answer
Total cash tips of $15 received by a tipped employee in May.
question
Which of the following statements does not describe an employee's FICA taxes and withholdings?
answer
The employee's liability for the FICA taxes continues even after the employer has withheld them.
question
Which of the following payments are not taxable for FICA?
answer
Wage supplements to cover difference between employees' salaries and their military pay.
question
Barr fails to make a timely deposit of FICA taxes and withheld income taxes until five days after the due date. The penalty facing Barr is:
answer
2% of the undeposited taxes
