13.05 - Review for Ch 13 Payroll Taxes Quiz

• Using the Chapter 13 textbook pages, create a Kahoot, Quizlet, or Google Slides Presentation that addresses the following questions:
1. Which type of tax is usually paid only by the employer and collected to provide funds for workers who are temporarily out of work?
2. Which document reports the accumulated amounts of federal income taxes and FICA taxes withheld from all of the employees’ earnings for the quarter?
3. Which tax return includes both federal and state unemployment taxes paid by the employer during the year?
4. Which form is prepared and sent with the employer’s check to show the amount of taxes being sent to the federal government?
5. The wage and tax statement provided to the employee that summarizes an employee’s earnings and tax deductions for the previous calendar year is called ___________.
6. What rate is used to calculate the employee and the employer social security taxes?
7. What rate is used to calculate the employee and the employer Medicare taxes?
8. When does Form W-2 need to be prepared and given to each employee by?
9. How are amounts withheld from gross earnings and held by the employer until they are paid classified by the business? (Assets, Liabilities, Expenses, or Revenue?)
10. How often is an employer required to file Form W-3?
11. How often is an employer required to file Form 941?
• Submit your work through the Assignment Submission Form