EMPLOYMENT TAXES
These two taxes combined are known as FICA.
What are Social Security and Medicare.
This is the maximum tax liability reported in the previous tax year to qualify to file Form 944.
What is $1,000.
This term is used to describe a taxpayer unable to obtain a bank account to make FTDs?
What is Unbanked.
The business is a semi-weekly depositor and paid their employees on Monday, when is their deposit due?
The Form you file to correct an administrative error on a Form 941
What is 941-X
This term is used to describe a tax period with total tax under $2,500.
What is the De minimis exception
This transaction code means that a payment was submitted with the Return.
What is 610.
This form is given to an Employee by the Employer when figuring out their FIT withholding amount.
What is a W-4.
Betsy had to report her tips because she earned more than this amount.
What is $20.
This part of Form 943-X is where you explain your correction
What is part 4
This person is responsible for withholding and depositing employment taxes to the US Treasury.
Who is the Employer.
This is the lookback period for a 941 filing in the second quarter of 2026.
What is the 3rd and 4th quarter of 2024 and the 1st and 2nd quarter of 2025.
This agricultural employer discovered an error on their 2023 Form 943 on January 15, 2025, by when must the Form 943-X be filed?
When is January 31st, 2026.
This is the percentage rate for the employees portion of social security tax.
What is 6.2%
You will enter the Ascertain date on these 94X-X Forms.
What is all of them except the 940
This command code is used to determine if a Reporting Agent is active.
RFINK
This line of Form 941 is required to indicate a minister's wages are exempt from social security and Medicare.
What is line 4.
This form is used to record the annual federal tax liability for a Form 944 filer who must deposit on a semi-weekly deposit frequency
What is Form 945-A
This is the maximum accrued percentage rate for the Failure to File penalty?
This letter is sent as a follow up to the CP 250B.
What is the CP 250C.
If more than $2,500 is withheld in nonpayroll taxes during a tax year, tax deposits must be made through this system.
What is EFTPS.
This command code is used to determine the lookback period.
This type of employer cannot file the Form 944.
Who is an Agricultural Employer.
This is the percentage of Medicare tax withheld from employee's wages who makes $210,000.00.
What is 2.35%.
This process is used if the taxpayer requests a refund of overreported taxes.
What is a claim.