8.4   Learning Objective 8-4

 

1) Which taxes are considered 941 taxes?

A) FICA, FUTA, and SUTA

B) FICA and SIT

C) FICA and FIT

D) None of these answers are correct.

 

2) Form 941 is filed:

A) monthly.

B) annually.

C) weekly.

D) quarterly.

 

3) Which form is used to report FICA taxes for the employer and employee, and also federal income taxes for the employee?

A) Form 941

B) Form 944

C) Form W-4

D) Form W-2

4) Which form contains information about gross earnings and is given to the employee by January 31?

A) Form W-2

B) Form W-3

C) Form SS-4

D) Form W-4B

 

5) Which form is sent to the Social Security Administration along with the W-2s? It reports total wages, FICA tax withheld, etc., for the previous year?

A) Form W-2

B) Form W-3

C) Form SS-4

D) Form 940

 

6) If an employer owes less than $2,500 for FICA (OASDI and Medicare) and FIT, they can submit:

A) Form 944—Employer’s Annual Federal Tax Return.

B) Form 8109—Federal Tax Deposit Coupon.

C) Form 940—Employer’s Annual Federal Unemployment Tax Return.

D) Form W-2—Wage and Tax Statement.

 

7) The payment of FUTA would include:

A) a credit to Cash.

B) a credit to FUTA Payable.

C) a debit to FUTA Expense.

D) a credit to FUTA Expense.

8) Form SS-4 is:

A) completed to obtain an EIN.

B) submitted to summarize the W-2 forms to the Social Security Administration.

C) submitted quarterly to pay FIT and FICA taxes.

D) submitted annually to pay unemployment taxes.

 

9) What is the purpose of Form 8109?

A) Used by employers to report the amount of unemployment tax due for the year

B) A quarterly tax report indicating the amount of FICA (OASDI and Medicare) taxes owed

C) A coupon that is completed and sent along with payments of tax deposits relating to forms 940, 941, or 944

D) To allow employers who owe less than $2,500 to report their FICA (OASDI and Medicare) taxes owed

 

10) The form used to complete the annual federal unemployment report is Form 941.

 

 

 



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