General Corporation (P.O. Box 4563, Houston, TX 77003; EIN 12-3456789) paid Louise Bryant, an employee who lives

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General Corporation (P.O. Box 4563, Houston, TX 77003; EIN 12-3456789) paid Louise Bryant, an employee who lives at 5471 DeMilo Street, Houston, TX 77052, wages of $24,554 in 2014. The withholding tax for the year amounted to $6,050.40, and the FICA tax withheld was $1,878.38 ($1,522.35 for Social Security and $356.03 for Medicare). Louise’s FICA wages were the same as her total wages. Her Social Security number is 545-64-7745. 

a. Complete the following Form W-2 for Louise Bryant from General Corporation.

b. General Corporation also paid $900 to William Russel for presenting a management seminar. William lives at 1455 Cullen Boulevard, Houston, TX 77008, and his Social Security number is 475-45-3226. Complete the following Form 1099-MISC for the payment to William from General Corporation.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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Income Tax Fundamentals 2015

ISBN: 9781305177772

33rd Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven Gill

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