Payroll Chapter 4

13 terms by bachtellb 

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Under the federal income tax withholding law, a definition of employee includes or excludes partners

excludes

Under the federal income tax withholding law, income taxes are or are not withheld from the value of meals that employers furnish workers on the employers' premises for the employers' convenience

not

Cash tips of this amount or more received by a tipped employee in a calendar month are treated as remuneration subject to federal income tax withholding

excludes

A waiter receives cash tips amounting to $120 in July. The waiter must report the amount of the cash tips to the employer by

August 10.

The payments to a cook employed by a college fraternity are included or excluded from federal income tax withholding

excluded

In the case of a 401(k) plan, employees age 50 or over can shelter an extra how much of their wages from federal income tax

6,000

The IRA format of the SIMPLE plan allows employees to make tax-free contributions of up to

10,500.

In the IRA form of the Simple Retirement Account, employers must match the employee's contribution, dollar-for-dollar, up to this percentage of the employee's compensation

3

An employee submits an invalid Form W-4 to the employer and does not replace it with a valid form. The employer should withhold federal income taxes at the rate for this type person claiming no exemptions

single

By completing this Form, a person can elect to have no income tax withheld from the annuity amounts the person receives

W-4P

Employees must be given Form W-2 on or before this date following the close of the calendar year

January 31

This Form is filed with the Social Security Administration when transmitting information returns on Forms W-2

W-3

If you, an employer, are filing 550 Forms W-2, you must use this type of file for Forms W-2

electronic

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