Question
Q1) Joe began working for his friend at ABC Company on July 15 of the current year. Given the casual nature of their friendship, Joe
Q1) Joe began working for his friend at ABC Company on July 15 of the current year. Given the casual nature of their friendship, Joe forgets to submit his Form W-4 before his first payday, and his supervisor does not request it. Joes supervisor has known Joe and his wife for years, and intends to mention the W-4 when he sees them for dinner next Friday night. At what rate must federal income tax (FITW) be withheld from Joe for that first paycheck?
No withholding is allowed until the W-4 is completed | ||
Married filing jointly with adjustments | ||
Married filing separately with adjustments | ||
Married filing separately with no adjustments | ||
Married filing jointly with no adjustments |
Q2) HapCo opened for business on June 6, 2020. As of June 30, 2021, it had accumulated 941 liabilities of $60,000. As a result,
(A) HapCo triggered the one-business day rule | ||
(B) HapCo will remain a monthly depositor in 2022 | ||
(C) HapCo will become a semiweekly depositor for 2022 | ||
Both (A) and (C) are correct | ||
Both (A) and (B) are correct |
Q3) Total undeposited 941 tax for the month of February is $3,000. Assuming the employer is a monthly depositor, this deposit must be made no later than:
February 28 | ||
March 31 | ||
April 15 | ||
March 15 |
Q4) Sarah's 2021 year-to-date FICA taxable wages are $205,000. On December 28, 2021, she receives a $10,000 bonus. How much FICA tax should be withheld on the bonus?
$145.00 | ||
$855.00 | ||
$0 | ||
$620.00 | ||
$235.00 | ||
$765.00 |
Q5) Marvel's accumulated deposit liability for the lookback period was $160,000. As a result, Marvel must deposit its 941 taxes under which of the following schedules?
one-banking day | ||
monthly | ||
semiweekly | ||
quarterly |
Please answer all of these don't say that it is chegg's policy to only answer first question, if you can not answer all of these spare for other instructor who can answer all of these questions. I don't have any questions remaining and my time is running. Please thanks you!
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