11) A deposit must be made when filing the W-3 form.
12) Form 8109 is used to make deposits.
13) The 940 is filed annually.
14) Form 940 is used by businesses that employ workers in multiple states.
15) Form 941 is completed annually.
16) Employees must receive W-3s by January 31 of the following year.
8.5 Learning Objective 8-5
1) The employer’s annual Federal Unemployment Tax Return is:
A) Form 940.
B) Form 941.
C) Form W-4.
D) Form 8109.
2) How often is a 940 filed?
3) Which of the following does not apply to both a W-2 and W-3?
A) Reports the total amount of wages, tips and compensation paid to the employee.
B) Reports the total OASDI and Medicare taxes withheld.
C) Sent to the Social Security Administration.
D) Employees use both forms to prepare their personal tax returns.
4) Information to prepare W-2 forms can be obtained from individual employee records.
5) The W-2 is the Wage and Tax Statement.
6) The individual employee earnings for all employees in a company are summarized on the W-3 form.
7) The W-3 is also known as the Transmittal of Income and Tax Statement.
8) The W-3 is filed along with copies of the W-2 forms.