Exam 5: Unemployment Compensation Taxes

An aspect of the interstate reciprocal arrangement concerns:

Christmas gifts, excluding noncash gifts of nominal value, are taxable wages for unemployment purposes.

If a company is liable for a credit reduction (due to

The person who is not an authorized signer of Form 940 is:

If an employer's quarterly tax liability is $525, it must be paid on or before the last day of the month following the end of the quarter.

Currently, none of the states imposes an unemployment tax on employees.

Which of the following payments are taxable payments for federal unemployment tax?

An employer can use a credit card to pay the balance with Form 940 (under $500).

Every employer is entitled to a 5.4 percent credit against the gross FUTA tax of 6.0 percent.

Included under the definition of employees for FUTA purposes are:

If an employee works in more than one state, the employer must pay a separate SUTA tax to each of those states in which the employee earns wages.

In some states, employers may obtain reduced unemployment compensation rates by making voluntary contributions to the state fund.

In most states, the contribution reports and the wage information reports are filed quarterly.

Unlike Form 941, there is no penalty for the late filing of Form 940.

Which of the following provides for a reduction in the employer's state unemployment tax rate based on the employer's experience with the risk of unemployment?

FUTA tax deposits cannot be paid electronically.

If an employer is subject to a credit reduction because of

An employer can use a credit card to pay the quarterly deposit of FUTA taxes during the year.

When making a payment of FUTA taxes, the employer must make the deposit by the:

Schedule A of Form 940 only has to be completed by employers who are subject to the