All of the following persons are classified as employeesunder the federal income tax withholding law with theexception of a. the president of a corporation b. anofficer of the federal government c. an elected officialin the state government d. a first - line supervisor e. apartner

Under the federal income tax withholding law, all of the following persons are generally classified…

Answered: All of the following persons are…

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter8: Payroll Accounting: Employee Earnings And Deductions

Section: Chapter Questions

Problem 3MC

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Similar questions

How are federal, state, and local income taxes collected by the government? Consider the cases of an employee and a self-employed taxpayer.
Income and loss from which of the following entities is passed through and taxed on the individual's personal tax returns? S corporation Partnership Sole proprietor All of the above
Dividends paid to a shareholder by a corporation should be reported on which of the following forms? Oa. 1099-R Ob. 1099-INT Oc. 1099-MISC Od. 1099-DIV Oe. None of these choices are correct.
A major objective of MACRS is to: O A. Ensure that the amount of cost recovery for tax purposes will be the same as book depreciation. B. Reduce the amount of the cost recovery deduction on businesses tax returns. C. Help companies achieve a faster write-off of their capital assets. D. Require companies to use the actual economic lives of assets in calculating cost recovery for tax purposes.
Which of the following accounts is debited to record the payment of employees' state income tax withholding? a. Employees' State Income Tax Payable b. Employees' State Income Tax Received c. Capital d. Cash
Which of the following taxes is both an employee and an employer tax?a. federal income tax.b. FUTA.c. local income tax.d. OASDI.
Which of the following journal entries is recorded for the payment of employees' state income tax withholding? a. A debit to Employees' State Income Tax Received and a credit to Cash b. A debit to Employees' State Income Tax Payable and a credit to Cash c. A debit to Cash and a credit to Employees' State Income Tax Received d. A debit to Cash and a credit to Employees' State Income Tax Payable
The tax informer's reward may be granted to * a Officials of the BIR O b. Public officials or employees c. Close relatives of public government employees d. Relatives of government employees beyond the 6th degree of consanguinity
The earnings and losses from a sole proprietorship are reported on O the sole proprietorship's state income tax return O the sole proprietorship's federal income tax return O the sole proprietorship business license form O the individual sole proprietor's personal income tax return
Typically, both the employee and the employer pay the same tax rate for: a. FICA b. Medicare tax c. federal income tax d. state tax e. both a and b
Which payroll tax is levied on both employers and employees? Both employees and employers are required to pay a.FICA taxes b.SUTA texes c.FUTA texes
1. Determine the amount of basic tax if the person is classified as resident citizen 2. Determine the amount of basic tax if the person is classified as non-resident citizen 3. Determine the amount of final tax if the person is classified as resident citizen 4. Determine the amount of final tax if the person is classified as non-resident citizen 5. Determine the amount of final tax if the person is classified as non-resident alien engaged in trade and business

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All of the following persons are classified as employees under the federal income tax withholding law with the exception of a. the president of a corporation b. an officer of the federal government c. an elected official in the state government d. a first-line supervisor e. a partner