What is the futa tax rate - Study guides, Class notes & Summaries

Certified Payroll Professional Exam 120 Questions with Verified Answers Form SS-8 - CORRECT ANSWER Determination of worker status for purpose of federal employment taxes and income tax withholding. Can be filled out by the business or worker. Form W-4 - CORRECT ANSWER Employees withholding allowance certificate. Documents the amount of federal tax withholding. Form SS-4 - CORRECT ANSWER Application for employer identification number. Form 8233 - CORRECT ANSWER Exemption from withhold...

BUSINESS TAX FINAL EXAM || All Questions & Answers (100% Correct) BUSINESS TAX FINAL EXAM || All Questions & Answers (100% Correct) The value added tax is a type of consumption tax? - ANSWER - TRUE The 16th Amendment to the US Constitution that provided for an income tax was ratified in 1913? - ANSWER - TRUE The statue of limitations for a fraudulent return is 6 years? - ANSWER - FALSE Tax avoidance is the minimization of the tax burden by using acceptable, legal alternatives? - ANS...

TEST BANK FOR SOUTH WESTERN FEDERAL TAXATION COMPREHENSIVE VOLUME COMPLETE ALL CHAPTERS 1-15 (REVISED VERSION). The ratification of the Sixteenth Amendment to the U.S. Constitution was necessary to validate the Federal income tax on corporations. a. True b. False ANSWER: False RATIONALE: The Sixteenth Amendment validated only the tax on individuals. The income tax on corporations had been previously sanctioned by the courts. 2. Before the Sixteenth Amendment to the Constitution was ratifi...

How many days after a full-time employee starts to work does an employer have to complete the I-9? correct answers4 days Which form does an employee need to submit to obtain a Social Security card? correct answersSS-5 Which form does an employer use to obtain an Employer Identification Number for depositing employment taxes? correct answersSS-4 If on April 15, 2020, a state's minimum wage is $6.95 per hour, what is the minimum rate that interstate employers in that state must pay emplo...

TEST BANK FOR SOUTH WESTERN FEDERAL TAXATION COMPREHENSIVE VOLUME COMPLETE ALL CHAPTERS 1-15 (REVISED VERSION). CHAPTER 1: AN INTRODUCTION TO TAXATION AND UNDERSTANDING THE FEDERAL TAX LAW 1. The ratification of the Sixteenth Amendment to the U.S. Constitution was necessary to validate the Federal income tax on corporations. a. True b. False ANSWER: False RATIONALE: The Sixteenth Amendment validated only the tax on individuals. The income tax on corporations had been previously sanctioned...

TEST BANK FOR SOUTH WESTERN FEDERAL TAXATION COMPREHENSIVE VOLUME COMPLETE ALL CHAPTERS 1-15 (NEW REVISED VERSION) The ratification of the Sixteenth Amendment to the U.S. Constitution was necessary to validate the Federal income tax on corporations. a. True b. False ANSWER: False RATIONALE: The Sixteenth Amendment validated only the tax on individuals. The income tax on corporations had been previously sanctioned by the courts. 2. Before the Sixteenth Amendment to the Constitution was rat...

Payroll Certification Exam RDE 93 Questions with Verified Answers Post Test Assessment - CORRECT ANSWER Which of the following laws establishes the minimum wage - CORRECT ANSWER Fair labor standards act medicare is a two part health insurance program that was part of an amendment to what act - CORRECT ANSWER federal insurance contributions act which of the following forms is used to complete each employee's W-2 wage and tax statement - CORRECT ANSWER Employee's earning record w...

FPC Test Random 72 Questions with Verified Answers An employee earns $1,031.00 semimonthly and with this paycheck receives a $300.00 production bonus. Deductions include $126.00 for federal income tax, $101.82 for social security and Medicare tax, $125.00 for court-ordered child support payments, and a $25.00 credit union payment. For this pay period, calculate the employee's semimonthly disposable pay for a creditor garnishment. - CORRECT ANSWER $1,103.18. An individual receiving a taxab...

FPC Practice Exam 188 Questions with Verified Answers Cafeteria plan are authorized by what Internal Revenue Code Section? A. 125 B. 401k C. 403b D. 457b - CORRECT ANSWER a. 125 all of the following are tax implications of a cafeteria plan except: a. no income tax withholding b. no social security and medicare tax withholding c. must withhold income, social security, and medicare taxes d. no form W2 reporting - CORRECT ANSWER C. must withhold income, social security, and medicare t...

ACCT 1130 Final Exam Study Guide 115 Questions with Verified Answers Which of the following is NOT a privacy act specifically pertaining to payroll records? A) Computer fraud and abuse act B) U.S. department of labor OCFO-1 C) Freedom of information act D) Community property act - CORRECT ANSWER C) Freedom of information act Why is outsourced payroll popular among accounting professionals? - CORRECT ANSWER Time demands for payroll processing decrease Congress passed the _____ and ...