Exam 10: Payroll Taxes

Wages subject to withholding and other employment taxes include all pay given to employees for services performed.

Angie earned $124,200 during 2016.She is single,claims two withholding allowances,and is paid monthly.How much FICA tax must Angie's employer remit to the federal government in 2016?

Employers are required to deposit FUTA taxes when their liability for a quarter exceeds:

Lynita has two jobs and earned $92,316 from her first job and $26,345 from her second job.How much total FICA taxes will Lynita have withheld from her wages from working two jobs? Round your answer to 2 decimal places.)

Eva earned $89 in tips in March.When must she inform her employer of her tips on Form 4070 for federal income tax and FICA withholding purposes?

Griffith & Associates is trying to determine how often it needs to deposit payroll taxes for the calendar year 2016.The company made the following quarterly payroll tax deposits during the last two years: a.What is the lookback period and amount? b.In 2016,how often must Griffith & Associates make payroll deposits?

An employer must send Copy A of Form W-2 with the W-3 transmittal form for each employee paid in 2016 to the Social Security Administration no later than:

The payroll period for a semiweekly schedule depositor ends and is paid on a Friday.The employer must deposit the federal taxes withheld for this pay period on or before:

Angie earned $124,200 during 2016.She is single,claims two withholding allowances,and is paid monthly.How much will Angie's employer withhold in social security taxes for 2016?

The credit against "payroll taxes" for providing COBRA premium assistance to eligible individuals is recorded using Form 941-X.

Although the federal unemployment tax is 6.0% of covered wages,employers receive a 5.4% federal credit if they make accurate and timely state unemployment tax deposits.

If on any day during the month,an employer accumulates $100,000 or more in tax liability,the taxes must be deposited:

Form W-4 is used by employees to indicate the filing status and number of withholding allowances claimed on Form 1040.

Sergio is single,is paid $2,750 per week,and claims two withholding allowance.What is the amount of federal income tax withheld from Sergio's gross wages for the week using the percentage method? Round your answer to 2 decimal places.)

Form 4070 is used by employers to record employees' tips subject to tax withholding and FICA taxes.

Shanita is a self-employed event planner.She has net earnings profit)from her business of $63,220.Her self-employment taxes for the year are: Round your answer to 2 decimal places.)

For wages paid in 2016,an employer must send Copy A of each Form W-2 along with the W-3 transmittal form to the SSA no later than:

The withholding tables are structured so that employers withhold approximately the same amount for a given annual income regardless of how often the employee is paid.

An employer with 250 or more employees uses which form to file W-2s electronically?

Marci has two jobs and both employers withheld FICA tax.From her first job,she earned $100,600 and from her second job she earned $18,300.How much can Marci claim on her Form 1040 as excess social security tax paid in 2016?