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Is a state or IRS levy against an employee considered payroll liability?
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FICA tax becomes a liability to the federal government at the time an employee's payroll is prepared?
true
Who is the primary actor in a payroll system employee or the payroll officer?
admin and employee
What is employment tax liability?
Employment tax liability refers to the amount of taxes an employer is responsible for paying on behalf of their employees. This includes payroll taxes such as Social Security and Medicare taxes, as well as federal and state income tax withholdings. The employer is responsible for deducting and remitting these taxes from the employee's wages to the tax authorities.
Employers usually prepare which types of payroll records?
payroll register, employee earnings record, and payroll check
What is payroll?
A Wage or monetary compensation paid to an employee for the service rendered by him is called PAYROLL
Does the employer have to pay into the unemployment fund in the state they do business in?
Employers pay into the unemployment fund in the "liable state" where they have their payroll. It is based on the payroll, so that is the state they have the obligation.
Where do you deduct payroll taxes on form 1120?
Payroll withholding is NOT an expense to the Company...it is part of payroll that you send to the IRS/State rather than give to the employee...although the cost of it is his salary. Other payroll costs are recorded as what they are..insurance, employee benefits, etc.
Which of the following is not deducted from an employee's payroll?
Property taxes
What is payroll journal?
A payroll journal is a listng of all payroll transactions, payments, adjustments, reversals and changes made to employee payroll records during a pay period.
What is payroll expense?
A payroll expense is an expense for an employee of a business. It is what is used to pay the workers in a company or organization.
What is expected of the employee with a sage payroll?
The Sage payroll card is basically the same thing as a direct deposit account. An employer, rather than depositing an employee's paycheck in a bank account, can deposit the money into a Sage payroll card. The employee will just have to complete an authorization form to begin this service.
When an employee goes on Family Medical Leave is there a waiting period in order for the employee to receive a paycheck?
An employee on FMLA leave is EMPLOYED and on the payroll. The leave may ne paid or unpaid, as the employee wishes, and paychecks come as often as other payroll employees.
