The following data applies to the July 15 payroll for the Woodard Research Firm (overtime is paid at 1 1/2)
Assume:
FICA-OASDI is 6.2% based on a limit of $117,000.
FICA-Medicare is 1.45%.
FUTA is .8% based on a limit of $7,000.
SUTA is 5.6% based on a limit of $7,000.
State income tax is 2.8%.
-Which of the following does NOT apply to both a W-2 and W-3?
A) Reports the total amount of wages,tips and compensation paid to the employee
B) Reports the total OASDI and Medicare taxes withheld
C) Sent to the Social Security Administration
D) Employees use both forms to prepare their personal tax returns.
Correct Answer:
Verified
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