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- Which of the following taxes are not withheld from an employee? a. FICA Social Security b. Federal Unemployment (FUTA) c. FICA Medicare d. Federal Income Tax e. All of the above are withheldWhat portions of an employees take-home pay are exempt from a federal tax levy?Which of the following does NOT apply to both a W−2 and a W−3? A. Reports the total amount of wages, tips and compensation paid to the employee B. Employees use both forms to prepare their personal tax returns. C. Sent to the Social Security Administration D. Reports the total OASDI and Medicare taxes withheld
- The amount of federal income tax to be withheld from employee's paychecks can be calculated byIn Jamaica Lump sum payments in respect of the termination of employment of a person may be relieved from tax. Discuss the conditions that must be met for these payments to be made without the deduction of tax.Can Employee's expenses (Unreimbursed) be itemized? Can Federal income tax withheld from salary wages be deducted from AGI? Can tuition, room, and board paid for college be itemized?
- Which tax is NOT withheld from an employee? Select one: Federal tax State tax Mortgage tax All of the above are withheldWhich of the following is NOT a valid use of Form 990-T? Request credit for certain excise taxes paid. Apply for reinstatement after an exempt organization has their status revoked. Claim the Small Employer Health Insurance Premium Tax Credit. Determine tax liability from UBI.which of the following is not a covid-19 tax relief provision available to a self-employed taxpayer? A. payroll tax deferral B. sick leave credit C. family leave credit D. self-employed tax rate reduction E. all the above
- Which of the following is not an item deducted from salary expense to arrive at net pay? Multiple Choice O O FICA tax for Social Security FICA tax for Medicare These answer choices are all deducted from salary expense to arrive at net pay Federal unemployment taxWhich of the following statements is false regarding an employee's contribution into a 401(k) tax deferred retirement account? a.The employee's contributions are not subject to FICA tax. b.Upon retirement, payments are then subject to federal income tax. c.Upon retirement, the employee will receive their contributions back in the form of regular payments. d.The employee may be in a lower tax bracket when the retirement income is taxed. e.None of these statements are correct.An employer may withhold portions of an employee's total earnings for a.state and county sales taxes. b.state unemployment taxes. c.local property taxes. d.federal unemployment taxes. e.charitable contributions.