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4 Cards in this Set
- Front
- Back
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13. XYZ Corporation, a semiweekly depositor, has a payroll tax liability of $65,000 on the first Thursday in December 2010. When must the liability be deposited?
a. The following Wednesday b. The following Friday c. The 15th of the following month d. With the quarterly Form 941 |
a. The following Wednesday
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14. Northwestern Shipping Corp. accumulates payroll tax liability on the Friday before Labor Day of $131,640. When is the deposit due?
a. The Friday before Labor Day b. The following Tuesday c. The following Wednesday d. The following Friday |
b. The following Tuesday
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15. Adjustments for fractional cents are reported on what line of Form 941?
a. 8 b. 7a c. 4 d. 9 |
b. 7a
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16. If an employer overwithholds federal income tax from its employees' wages and discovers the error after filing Form 941 for the quarter during which the error was made, which option is not available to the employer?
a. The employer may reimburse the employee for the overwithheld amount b. The employer may reduce future withheld taxes during the same calendar year that the error occurred. c. The employer may apply the overwithheld amount to the next calendar quarter in the same year that the error occurred d. The employer may apply the overwithheld amount to the following year to reduce the amount withheld in the new year. |
d. The employer may apply the overwithheld amount to the following year to reduce the amount withheld in the new year.
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