Which of the following statements is NOT correct?
A) Payroll tax deposits can be made electronically or by using a Federal Tax Deposit Coupon, Form 8109.
B) The "lookback period," in regard to payroll taxes, is defined as the previous month.
C) The accountant obtains information about wages subject to payroll taxes from the payroll register.
D) Most commercial banks are authorized to accept the employee's tax deposits for federal income taxes withheld and the employer's and employees' shares of social security taxes.
Correct Answer:
Verified
Q14: The entry to record a deposit of
Q15: The payments of employees' federal income taxes
Q16: The entry to record the Social security
Q17: The entry to record the employer's payroll
Q18: A business pays the social security tax
Q20: Only the employer is responsible for paying
A)FUTA
Q21: Generally, the maximum earnings subject to state
Q22: Jackson Autos has one employee. As of
Q23: All of the following taxes are withheld
Q24: To record the deposit of FUTA tax,
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