My contribution
3–2
Payroll Accounting
Employer’s FICA (OASDI) TaxesSuccessor Employer
A SELF-EMPLOYED PERSONSelf-Employment Income
Self-Employment OASDI/HI TaxesTaxable Year Reporting Self-Employment Income
EMPLOYER IDENTIFICATION NUMBEREMPLOYEE’S APPLICATION FOR SOCIAL SECURITY CARD (FORM SS-5)Verifying Social Security NumbersRETURNS REQUIRED FOR SOCIAL SECURITY PURPOSESDeposit Requirements (Nonagricultural Workers)
Monthly Semiweekly One-Day Credit Against the Required DepositsThe Safe Harbor Rule (98 Percent Rule)Deposit Requirements for Employers of Agricultural WorkersDeposit Requirements for Employers of Household EmployeesDeposit Requirements for State and Local Government EmployersProcedures for Making Deposits
Electronic DepositsFTD Coupons
PREPARING FORM 941 (EMPLOYER’S QUARTERLY FEDERAL TAX RETURN)Completing the Return
Part 1Part 2 Part 3Part 4Part 5
Filing Form 941Electronic Filing of Form 941Form 941-XForm 944FAILURE-TO-COMPLY PENALTIESFailure to File Employment Tax ReturnsFailure to Fully Pay Employment TaxesFailure to Make Timely DepositsFailure to Furnish Payee StatementsFailure to Furnish Information ReturnsBad ChecksKEY TERMS
© 2010 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publiclyaccessible website, in whole or in part.
Chapter 3
3–3
CHAPTER SUMMARY
Matching Quiz (p. 3–34)
1.
E
2.
D
3.
H
4.
A
5.
J
6.
I
7.
C
8.
B
9.
G
10.
F
Questions for Review (p. 3–34)
1.
To be classified as a “covered” employer, the person must employ one or moreindividuals for the performance of services in the United States, unless suchservices or employment are specifically exempted by the law. As long as thecommon-lawrelationship of employer and employee
Payroll Accounting
Employer’s FICA (OASDI) TaxesSuccessor Employer
A SELF-EMPLOYED PERSONSelf-Employment Income
Self-Employment OASDI/HI TaxesTaxable Year Reporting Self-Employment Income
EMPLOYER IDENTIFICATION NUMBEREMPLOYEE’S APPLICATION FOR SOCIAL SECURITY CARD (FORM SS-5)Verifying Social Security NumbersRETURNS REQUIRED FOR SOCIAL SECURITY PURPOSESDeposit Requirements (Nonagricultural Workers)
Monthly Semiweekly One-Day Credit Against the Required DepositsThe Safe Harbor Rule (98 Percent Rule)Deposit Requirements for Employers of Agricultural WorkersDeposit Requirements for Employers of Household EmployeesDeposit Requirements for State and Local Government EmployersProcedures for Making Deposits
Electronic DepositsFTD Coupons
PREPARING FORM 941 (EMPLOYER’S QUARTERLY FEDERAL TAX RETURN)Completing the Return
Part 1Part 2 Part 3Part 4Part 5
Filing Form 941Electronic Filing of Form 941Form 941-XForm 944FAILURE-TO-COMPLY PENALTIESFailure to File Employment Tax ReturnsFailure to Fully Pay Employment TaxesFailure to Make Timely DepositsFailure to Furnish Payee StatementsFailure to Furnish Information ReturnsBad ChecksKEY TERMS
© 2010 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publiclyaccessible website, in whole or in part.
Chapter 3
3–3
CHAPTER SUMMARY
Matching Quiz (p. 3–34)
1.
E
2.
D
3.
H
4.
A
5.
J
6.
I
7.
C
8.
B
9.
G
10.
F
Questions for Review (p. 3–34)
1.
To be classified as a “covered” employer, the person must employ one or moreindividuals for the performance of services in the United States, unless suchservices or employment are specifically exempted by the law. As long as thecommon-lawrelationship of employer and employee