Question
c. Complete Part 5 of Form 940 for the California employer given the breakdown of FUTA taxable wages for the year to be: 1st quarter
c. Complete Part 5 of Form 940 for the California employer given the breakdown of FUTA taxable wages for the year to be:
1st quarter $237,000
2nd quarter $168,000
3rd quarter $54,000
4th quarter $8,950
Yearly Total $467,950
The employer paid their SUTA on-time. Round your answers to two decimal places, if necessary. Part 5: Report your FUTA tax liability by quarter only if line 12 is more than $500. If not, go to Part 6. 16 Report the amount of your FUTA tax liability for each quarter; do NOT enter the amount you deposited. If you had no liability for a quarter, leave the line blank.
16a 1st quarter (January 1 March 31)
16b 2nd quarter (April 1 June 30)
16c 3rd quarter (July 1 September 30)
16d 4th quarter (October 1 December 31)
17 Total tax liability for the year (lines 16a + 16b + 16c + 16d = line 17) 17 12,634.65 Total must equal line 12.)
Someone please explain to me how to get the answers for 16a-16d. Line 17 as $12,634.65 is CORRECT
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