If a non-exempt employee earns $11,000 per year, the total amount of Medicare and Social Security Tax paid by his company will be ______, $786.50, $841.50, $600.00, $1,474, If an employee earns $22,000, the total amount of Medicare and Social Security taxes he will pay this year will be ______., $1,391.00, $2,057.00, $1,573.10, $1,683.00, If an employee of Rofer Construction Company earns $32,000, what will be the total amount of Medicare and Social Security tax deposited?, $4,576.80, $4,896.00, $2,170.80, $1,135.40, A contractor withholds backup withholding on a 1099 contractor. He must report this backup withholding on IRS form ______., 941, 943, 945, 940, For FUTA tax purposes, an employer is a person or organization that has paid at least $______ in any calendar quarter in wages, 1,500, 2.000, 25, 1.000, An employer can withhold a flat ______ % of employee's supplemental wages for Federal Income Taxes., 20, 22, 25, 30, Supplemental wages include ________., bonuses, commissions, overtime pay, all of the above, . If an employee does not give you a valid Form W-4, withholding tax is figured as if he or she were ________., single with no withholding allowances, single with 1 withholding allowance, married with no allowances, married with 2 allowances, A change or unauthorized addition to a W-4 form makes it ______., invalid at the end of 90 days, invalid at the end of 120 days, invalid, valid, A small business with only one employee owes less than $500 in withheld income and FICA taxes at the end of the month. If you reported $50,000 or less of taxes for the lookback period, a deposit must be made ______?, by the end of the first week of the new quarter, you do not have to deposit any of the money and will be given credit at the end of the year, at the end of the year, monthly, If you accumulate taxes of $100,000 or more at any time you are subject to the ______., semi-monthly deposit rule, next tax audit, $100,000 next-day deposit rule, deposit within 3 banking days rule, If $50,000 or more is paid in withheld income and FICA taxes during the four quarters of your lookback period, a deposit must be made ______., semiweekly, within 15 days after the end of the eighth-month period, within the first month of the next eighth-month period, by the end of the next quarter, Deposits for FUTA taxes are due by ______., the 15th day of the month following the end of the quarter, by the 15th day of the next month following the quarter, by the last day of the 1st month after the quarter ends, at the end of the eighth-monthly period, All employers subject to income tax withholding, FICA taxes, or both must file the ______ form quarterly, 941, 940, W-2, W-4, Form 941 must be filed for the months July, August and September by ______ if all taxes were not deposited when due., April 30, July 31, October 31, January 31, The maximum credit against FUTA tax for contributions you paid into State Unemployment funds is ______., 2.7%, 5.4%, 6.7%, none of the above, An employer must give an employee a W-2 form by ______., the end of January of the following year, the end of each quarter the work was performed, the end of the year, none of the above, You will be considered to have satisfied the deposit requirements, and penalties will not be applied, if you deposit timely at least ______ % of your liability or if the shortfall does not exceed ______., 95% – $500, 98% – $500, 95% – $100, 98% – $100, A son or a daughter who is under the age of 18, employed by a parent in a trade or business, may be subject to ______., income tax withholding, social security taxes, federal unemployment taxes, Medicare, Sam earns $50,000 per year, is paid monthly, and is classified as a non-exempt employee. Because of his outstanding performance, he is paid a $12,000 bonus at the end of the year. FIT withholding is figured using the supplemental wage percentage. Sam is married, and claims four (4) withholding allowances. Sam's total withholding tax on his bonus will be ______., $2,640.00, $918.00, . $10,804.40, $14,882.50, A highly-paid employee earns $37,000 per year, is paid bi-weekly, and is classified as a non-exempt employee under the Fair Labor Standards Act. Because of exceptional performace, he is paid a $ 10,000.00 bonus at the end of the year. His employer uses the wage bracket method for figuring income tax. The employee is married and claims two (2) withholding allowances. The total Social Security and Medicare deductions from his pay will be $ ____ Select the closest answer_, $3,379.50, $3,595.50, Form ______ is filed with Immigration & Naturalization to determine if a potential employee is legally eligible to work., SS-4, SS-5, 1099-Misc., I-9, If a tax deposit is made 18 days late, it may be subject to a penalty of ______ %., 15%, 10%, 5%, 2%, Which of the following employees may be eligible for EIC on their 2020 tax returns?, an employee with one child and less than $22,000 in wages, an employee with one child and less than $24,000 in wages, an employee with one child and less than $27,000 in wages, all of the above, A contractor has deposited all taxes when due for the quarter ending on September 30. What is the latest date he may file the quarterly Form 941?, September 30, November 10, January 31 of the next year, October 31, A student working for a private school, college, or university, if enrolled and regularly attending classes, is exempt from ______., FIT, FIT and FICA, FIT, SOC SEC, Medicare and FUTA, SOC SEC, Medicare and FUTA, A son hired his 65-year-old father to work in his construction office. Which of the following taxes is the company not required to pay?, Social Security and Medicare, Income tax, Medicare only, Federal unemployment, Rofer Construction Inc. has 5 employees as of September. All 941 tax deposits were made on time, except for the May deposit, which was 10 days late. What is the latest date that Rofer Construction can file its September 941 tax form?, Oct. 8, Oct. 31, Nov. 10, Nov. 31, Employers are required by regulation to keep all records of employment taxes for at least ______., 2 years, 3 years, 4 years, 5 years, If you want the IRS to determine whether a worker is an employee or not, file form ______., SS-6, SS-8, SS-4, ES-8

Chapter 3 - Circular E

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