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16y ago

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Who has to file IRS 941 form?

The 941 form is a payroll form filed by employers to pay the collected Federal Income Taxes withheld, the employee and employer share of social security, and the employee and employer share of medicare taxes. This form is a quarterly form which reconciles the tax payment due with the taxes already paid throughout the quarter.


What is business combinations?

may arise when one entity acquires control over to combines with another business by acquiring the share capital of another or the tow entities exchange their issued share capitals.


How does an employer get a credit for overpaid FICA taxes on an employee?

An employer can obtain a credit for overpaid FICA taxes by filing Form 941-X, which is the adjusted employer's quarterly federal tax return or claim for refund. This form allows the employer to correct errors on previously filed Forms 941, including overpayments of FICA taxes. Additionally, if the overpayment pertains to a specific employee, the employer may need to ensure that the employee is properly credited for their share of the overpaid taxes. The employer should maintain accurate records to support their claim.


What does the accorynm ESOP stand for?

This a an employee stock buy option, also known as Employee ownership through employer stock. This is best define as the Employee share Option Plans (ESOP). You are basically given the option to buy stock into the company.


Can an employer use W-4 to withhold taxes and give employee a 1099?

No. A 1099 is issued to self-employed contractors hired to do a job. If your employer issued you a 1099, they are telling your state's Dept of Employment and Dept of Revenue that you're an independent contractor (self-employed). This means they generally are not withholding any taxes from your pay, nor are they paying their share of payroll taxes or paying unemployment insurance for you. This puts you on the hook for all your own self-employment taxes (FICA & Medicare) which is shared between an employer and an employee. You'll want to check on independent contractor laws in your state to see if your appropriately classified and your employer is paying what they're supposed to pay.

Related Questions

Is it safe to share a passport copy online?

No, it is not safe to share a passport copy online as it can lead to identity theft and fraud. It is important to keep personal identification documents secure and only share them with trusted entities when necessary.


Is it safe to share my routing number with others?

It is generally not safe to share your routing number with others, as it can be used to access your bank account and make unauthorized transactions. It is important to keep this information private and only share it with trusted entities, such as your bank or employer.


Is it safe to share my routing and account number with others?

It is generally not safe to share your routing and account number with others, as it can put your financial information at risk of being misused or stolen. It is important to keep this information private and only share it with trusted entities, such as your bank or employer, when necessary.


If an employer does not share and simply follows the law does it mean he is unethical?

No the employer is following the law.


How do you audit share based payments and special purposes entities?

examples of audit procedures for share based options


List the deal-winning tactics that you used in order to enhance market share for your current employer?

Answering "List the deal-winning tactics that you used in order to enhance market share for your current employer?"


Who owns the Automatic Identification System?

Nobody. Ships and boats buy AIS transmitters. Ships >300 tons are required to do so. Receiving stations are owned by many entities -- from commercial groups, to government, to private individuals. Many share their data freely however, e.g. www.marinetraffic.com


How do you share numbers?

by giving them


Do college instructors share their book royalties with their employer?

It depends on contractual language when they were hired.


What is the term for a factor that two or more numbers share?

A factor that two or more numbers share is known as a common factor.


Can I share my routing number with someone?

It is generally not recommended to share your routing number with someone unless you trust them completely, as it can be used to access your bank account. Be cautious and only share this information with trusted individuals or entities.


How distance Arizona to Mexico border in km?

Both entities share a common border (e.g. distance is 0)