1. What are the total taxable FUTA wages for the year? What would these FUTA taxable wages have been if John Parker earned $100,000 less for the year? 2. For Allison Harrison, by how much do her Wages, Tips, and Other Compensation on Form W-2 differ from her Medicare Wages and Tips? What does this amount represent? 3. Why does the employer not sign Form W-2? Does the employer sign any form that conveys annual employee compensation to the IRS? If so, which form? 4. For John Parker, by how much do his Social Security Wages on Form W-2 differ from his Medicare Wages and Tips? Why does this difference exist? 5. What is the standard Medicare tax rate? Why does this rate differ from the .029 displayed on line 5c of Form 941? Why does this rate differ from the .009 displayed on line 5d of Form 941? 6. On Form 940, should Part 5 be completed for the current year? Why or why not? 7. For the 4th quarter, what portion of the total Medicare tax is paid by the employer (not withheld from Employee earnings)? 8. Is John Parkers Medicare tax withheld the same for each pay period in December? Why or why not? 9. Does the employer owe the same amount of SUTA tax for each employee? Why or why not? What is the amount of SUTA tax owed for each employee? 10. Is Additional Medicare Tax withheld from any employee? If so, which employee(s), and why is this tax withheld from them?

om the provided information, please respond to the following One-Month Project analysis questions: 1. What are the total taxable FUTA wages for the year? What would these FUTA taxable wages have been if John Parker earned $100,000 less for the year? 2. For Allison Harrison, by how much do her Wages, Tips, and Other Compensation on Form W-2 differ from her Medicare Wages and Tips? What does this amount represent? 3. Why does the employer not sign Form W-2? Does the employer sign any form that conveys annual employee compensation to the IRS? If so, which form? 4. For John Parker, by how much do his Social Security Wages on Form W-2 differ from his Medicare Wages and Tips? Why does this difference exist? 5. What is the standard Medicare tax rate? Why does this rate differ from the ".029" displayed on line 5c of Form 941 ? Why does this rate differ from the ".009" displayed on line 5d of Form 941 ? 6. On Form 940, should Part 5 be completed for the current year? Why or why not? 7. For the 4th quarter, what portion of the total Medicare tax is paid by the employer (not withheld from Employee earnings)? 8. Is John Parker's Medicare tax withheld the same for each pay period in December? Why or why not? 9. Does the employer owe the same amount of SUTA tax for each employee? Why or why not? What is the amount of SUTA tax owed for each employee? 10. Is Additional Medicare Tax withheld from any employee? If so, which employee(s), and why is this tax withheld from them? Ellipses Corp. is a small business that operates in Herndon, VA. The company is located at 10 Period Lane, Herndon, VA 20170. Its federal Employer Identification Number is 77-7777777, and its president, who signs all tax forms, is John Parker (telephone \#571-555-0073). The company does not wish to name a third-party designee on forms. During 2020 four individuals are employed by Ellipses Corp. These employees are as follows: Note that Pierre Sternberg was hired in November, and his first day of work was Monday, November 23. On his W-4 Form Pierre checked box 2c and left sections 3 and 4 blank. Pierre files as married filing jointly on his tax return. Additionally, due to an economic downturn, Allison Harrison was laid off in mid-December, with her last day of work on Friday, December 11 All employees of Ellipses Corp. work a regular 40-hour workweek (thus all hours worked over 40 in a given week are overtime hours), receive overtime pay at a rate of 1.5 times the regular wage rate, and are paid weekly on Friday for the current week (which runs from Saturday through Friday, although employees never work on weekends). The SUTA tax rate applicable to Ellipses Corp. is 3.1\%, while the SUTA wage base in Virginia is $8,000. Earnings and voluntary deduction information for each of the four employees is as follows: The first 11 months of the year have passed, and all payroll-related activity has been properly accounted for as of 11/30/2020. Payroll data for each of the four employees for the first three quarters of the year, as well as for the months of October and November, is as follows: Allison Harrison Inhn Parker Dierre Sternhera Notes: - All tax payments and filings are made on the due date. - All charitable contributions are deemed to be made on the final day of each pay period. The following information will be required for the completion of these records for the two employees who are compensated via an hourly wage