Payroll Accounting Payments that are exempt from Federal Income Taxes? How many allowances to claim on W-4 if the marital status is unknown? Deadline to distribute W-4 to employees

Q: Issue:  Under the Federal Insurance Contributions Act (FICA) every person is an employer if the…

A: 1) a) Federal Insurance commitments act is a US law that orders charge demand on the pay rates Wages…

Q: Employers pay both social security and unemplolyment taxes. O True False

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: An employer may withhold portions of an employee's total earnings for a.state and county sales…

A: A withholding is the portion of an employee's wages that is not included in their paycheck because…

Q: Regarding the federal income tax withholding tables, the amount of each employee's earnings withheld…

A: The amount you withhold for each of your employees is likely to vary since the total federal income…

Q: Question 21: The income threshold for Additional Medicare Tax levied is based on the Answer: A. age…

A: Additional Medicare Tax is an amount that is additionally paid by the tax payer contributions to the…

Q: Which of the following taxes is paid by the employee only? Choose the best answer. Group of answer…

A: Tax is compulsory payment made by the assessee to the government .

Q: In determining an employee's net pay, which of the following taxes would not be deducted? a.SUTA…

A: Employees net pay = Gross pay - All payroll deductions

Q: Which of the following does NOT apply to both a W−2 and a W−​3?     A. Reports the total amount of​…

A: IRS forms W-2 and W-3 both are submitted by the employer to Social Security Administration and both…

Q: Which payroll tax is levied on both employers and employees? Both employees and employers are…

A: The payroll tax is required to be remitted to the government on the behalf of employee and is…

Q: Employees are subject to taxes withheld from their paychecks.a. List the federal taxes withheld from…

A: Payroll: The total payment that a company is required to pay to its employee for the services…

Q: Independently considering each of the following statements regarding Form W-2 (Wage and Tax…

A: The employer makes deductions from the employee’s salary and therefore there is some legal…

Q: In a payroll journal entry, a credit to Federal Withholding Tax Payable indicates a.Federal taxes…

A: Solution: In payroll journal entry, Payroll expense are debited, amount paid to employee is credited…

Q: Which tax is NOT withheld from an employee?  Select one: Federal tax State tax Mortgage tax All of…

A:

Q: The Federal Insurance Contributions Acta.  requires employer FICA liabilities to be recorded upon…

A: The correct answer is Option (d).

Q: Some payroll taxes are paid by both employees and employers. Others are paid only by employers.…

A: Some payroll taxes are borne by both employer and employee while some are paid only by employees or…

Q: Which of the following type of information is not provided on a payroll register? a.regular rate of…

A: Payroll register: Payroll register is a form that is used by an employer to gather information on…

Q: Salaries Expense Social Security Tax Payable Medicare Tax Payable Employee Federal Income Tax…

A: Given: Salary expense = $12,400

Q: Match each form name with its associated description. Form 1099-NEC Form 1096 Form W-9…

A: Since the questions asked are different,As per our guidelines ,we are allowed to answer only…

Q: Are both taxes calculated on gross wages or calculated on adjusted wages for after pre-tax…

A: Explanation on Social Security tax and Medicare tax  is given below,

Q: Which of the following payroll related taxes are paid by the employer? Choose the best answer. Group…

A: Social Security Tax and Medicare Tax are taxes that are deducted from employee's salary. There are…

Q: How do you calculate FIT on payroll register? If employees are paid on a biweekly basis and they are…

A: Employees are paid = Bi-weekly Marital status = Married Withholdings = Nil Retirement plan…

Q: 12. All of the following payroll taxes are levied against the employer, except for: a. FICA taxes…

A: Tax: Tax is a financial charge imposed by the county's government on the income of the person, and…

Q: Married individuals filing separate Forms 1040 are not eligible to claim an exclusion for interest…

A: 16.True. To claim an exclusion for interest income earned on United states saving bonds used to…

Q: Which of the following would appear on payroll tax Form 941? State unemployment tax State Income…

A: Form 941 of payroll taxes is used by employers to report income taxes, Social Security tax, or…

Q: Identify the following statement that is false.   a. If an employer is not required to withhold…

A: Withholding - Withholding is the portion of an employee's wages that is not included in his or her…

Q: Is Social Security Tax & Medicare tax calculated on all gross wages in a pay period?

A: Earnings subjected to the Social Security (SS) portion of the FICA tax are considered as SS wages.…

Q: The sole purpose of Social Security taxes is to provide retirement benefits to employees. True…

A: * As per Bartleby policy, if question contains multiple subparts then answer first three only. 1.…

Q: Question 5: Which of the following employee taxes is matched by the employer? Answer: A. State…

A: Introduction:- Payroll taxes are the state and federal taxes. As an employer, are responsible to…

Q: The amount of federal income tax to be withheld from employee's paychecks can be calculated by

A: Federal income tax: It is a tax levied by the IRS on the annual income of the taxpayers such as…

Q: How are the electronic tax deposits transferred from the employer’s account to the IRS?

A: The employer is having two options for transferring the electronic tax deposit to the internal…

Q: List the required employee payroll withholding deductions, and provide the tax rate for each.

A: Payroll withholding deduction: The amounts which the employer withheld from employees’ gross pay to…

Q: the amount of payroll tax withheld from an employee’s paycheck by an employer is  a current…

A: Answer with explanation are as follows

Q: The amount of compensation subject to OASDI tax is correctly defined as Select one: a. all amounts…

A: OASDI (Old Age, Survivors, and Disability Insurance program) tax is a tax levied by IRS on all…

Q: Reimbursement of costs covered by employees on behalf of the employer such as travel expenses and…

A: All the reasonable reimbursements will not include in the gross income of employee. If this is not…

Q: Why are deductions from employees’ earnings classified as liabilities for the employer? For each of…

A: Payroll: The total payment that a company is required to pay to its employee for the services…

Q: Concerning payroll accounting - Is Social Security & Medicare tax calculated on the entire…

A: The social security benefits would be received by anyone whether married or single. There is no…

Q: 1. Which of the following items is normally NOT assessable under salaries tax? a. Payment in lieu…

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: 1. The original Social Security tax rate was _____ of taxable earnings. Answer:   A.    10%…

A: 1. The original social security rate tax is 1% of taxable earnings.

Q: Prior to posting the November 30 payroll transaction, FICA Taxes Payable - OASDI, FICA Taxes Payable…

A: Introduction: Every business organization has employees therefore it needs to record on an accrual…

Q: Journal Entries for Payment of Employer Payroll Taxes Jason Chen owns a business called Chen Home…

A: Record journal entry for payment of employee federal income tax, social security and Medicare taxes…

Q: which of the following is not a covid-19 tax relief provision available to a self-employed taxpayer?…

A: Step 1 Tax relief is an initiative that is designed to reduce the amount of taxes paid by…

Q: 1. Record the entries for the payment of payroll and the employer's payroll tax expense in the…

A: Payroll tax expense = 67.69+15.82+74.00+21.84 = 179.35 Total Deductions includes Union dues of 10.80…

Q: what are the rules for calculating taxes if an employee has more than one employer?

A: Following are the rules for calculating taxes if an employee has more than one employer