If an employer owes less than $2,500 for FICA (OASDI and Medicare) and FIT, they can submit:
A) Form 941.
B) Form 940.
C) Form W-2.
D) Form W-3.

Question

Quizplus · Accepted Answer

Form 941 is used by employers to report income taxes, social security tax, or Medicare tax withheld from employee's paychecks and to pay the employer's portion of social security or Medicare tax. If an employer owes less than $2,500 for FICA and FIT, they can pay it with their Form 941 instead of making deposits.

If an Employer Owes Less Than $2,500 for FICA (OASDI