Rounding differences with the employee and employer amounts of FICA taxes are handled on the 941 report by:
A) Any differences are paid in or refunded as appropriate
B) Line 7 accommodates fraction differences, which accommodates rounding
C) When differences occur, the numbers are adjusted before the report to balance
D) None of the above
Correct Answer:
Verified
Q41: Once the employee's income reaches the limit
Q42: The W-3 shows all of the following
Q43: The employer becomes liable for payroll tax
Q44: The Payroll Tax Expense account is used
Q45: Required employee payroll deductions include income taxes,
Q47: FUTA is an abbreviation for:
A) Future Unemployment
Q48: The FUTA tax is imposed on employees
Q49: There is a ceiling on each employee's
Q50: The FUTA tax must be paid by
Q51: Which of the following statements is true?
A)
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