Multiple Choice Questions

To be designated a semiweekly depositor, how much in employment taxes would an employer have reported for the four quarters in the lookback period?
  • More than $50,000.
  • All of these choices are correct.
  • The taxes must be deposited on or before November 15.
  • 2% of the undeposited taxes
Which of the following deposit requirements pertains to a monthly depositor who has accumulated employment taxes of $2,900 at the end of October?
  • The taxes must be deposited on or before November 15.
  • The taxes must be deposited by the close of the next banking day.
  • The taxes must be deposited on or before Friday, May 22.
  • The employee's liability for the FICA taxes continues even after the employer has withheld them.
FICA defines all of the following as wages except:
  • Total cash tips of $15 received by a tipped employee in May.
  • federal government secretaries hired in 1990.
  • Partners
  • None of the choices are correct; (it's 12.4 & 2.9).
FICA defines all of the following as employees except:
  • Partners
  • Wage supplements to cover difference between employees' salaries and their military pay.
  • federal government secretaries hired in 1990.
  • Total cash tips of $15 received by a tipped employee in May.
Which of the following payments are not taxable for FICA?
  • The employee's liability for the FICA taxes continues even after the employer has withheld them.
  • Wage supplements to cover difference between employees' salaries and their military pay.
  • The taxes must be deposited by the close of the next banking day.
  • value of meals furnished employees for the employer's convenience.
Barr fails to make a timely deposit of FICA taxes and withheld income taxes until five days after the due date. The penalty facing Barr is:
  • More than $50,000.
  • All of these choices are correct.
  • The taxes must be deposited on or before November 15.
  • 2% of the undeposited taxes
FICA excludes from coverage all of the following kinds of employment except:
  • federal government secretaries hired in 1990.
  • value of meals furnished employees for the employer's convenience.
  • The employee's liability for the FICA taxes continues even after the employer has withheld them.
  • Total cash tips of $15 received by a tipped employee in May.
Each of the following items is accurately defined under FICA as taxable wages except:
  • The taxes must be deposited on or before November 15.
  • The employee's liability for the FICA taxes continues even after the employer has withheld them.
  • Wage supplements to cover difference between employees' salaries and their military pay.
  • value of meals furnished employees for the employer's convenience.
Ashe, an employer, has made timely deposits of FICA taxes and withheld income taxes during the first quarter ofThe latest date on which Ashe may file Form 941 is:
  • All of these choices are correct.
  • The taxes must be deposited on or before Friday, May 22.
  • May 10
  • More than $50,000.
The taxes imposed under the Social Security Act consist of: a.OASDI and HI taxes. b.two taxes on employers. c.two taxes on employees. d.taxes on the net earnings of the self-employed. e.
  • 2% of the undeposited taxes
  • None of the choices are correct; (it's 12.4 & 2.9).
  • All of these choices are correct.
  • More than $50,000.
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Multiple Choice Questions
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