1. If a taxpayer works for two separate employers, how much in FUTA taxes is each employer...
Question:
1. If a taxpayer works for two separate employers, how much in FUTA taxes is each employer responsible to remit in the name of the taxpayer? (Points : 1) Only the first employer is required to remit FUTA taxes on the wages earned from the first job. Both employers must remit FUTA taxes on the first $7,000 in wages they pay to the taxpayer. The first employer remits 5.4% on the first $7,000 in wages while the second employer remits only .8% on the first $7,000 in wages to equal the 6.2% rate. The first employer remits FUTA tax on the first $7,000 in wages and the second employer remits FUTA tax on the next $7,000 in wages.
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Fundamentals Of Taxation 2016
ISBN: 9781259812774
9th Edition
Authors: Ana Cruz, Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler, Jinhee Trone