Question: Kim earned $ 7 5 in tips in September. When must the employer be informed of the tips on Form 4 0 7 0 for

Kim earned $75 in tips in September. When must the employer be informed of the tips on Form 4070 for federal income tax and FICA withholding purposes?
By September 30.
By October 10.
By October 31.
Kim is not subject to payroll taxes on tips of less than $80 in any one month.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

Help me do these questions-To answer the following questions, download the CSV file (or, copy-paste the data from the table on the right) and import it into your data software. The file is a...

Q:

Brian and Julia Leach are married, file a joint return and have two dependent children (twins, age 9). Brian begins a new job and is asked to fill out a Form W-4. His monthly gross earnings will be...

Q:

2B. Warner and Augustine Robins, both 33 years old, have been married for 9 years and have no dependents. Warner is the president of Dragon Lady Corporation located in Macon. The Dragon Lady stock is...

Q:

Post-closing Pacilio Security Services, Incorporated Balance Sheot At December 31, Year 10 Assets \\begin{tabular}{|l|l|} \\hline Assots & \\\\ \\hline & \\\\ \\hline & \\\\ \\hline & \\\\ \\hline &...

Q:

1-34 General Journal please During Year 10 , Pacilio Security Services experienced the following transactions: 1. Paid the sales tax payable from Year 9. 2. Paid the balance of the payroll...

Q:

2B. Warner and Augustine Robins, both 33 years old, have been married for 9 years and have no dependents. Warner is the president of Dragon Lady Corporation located in Macon. The Dragon Lady stock is...

Q:

please help me complete the following worksheets: general journal, General ledger, trial balance, income statement, changes in stockholders equity, balance sheet, statement of cash flows, Analysis...

Q:

The account balances of Pacilio Security Services, Incorporated as of January 1, Year 10, are shown here: During Year 10, Pacilio Security Services experienced the following transactions: 1. Paid the...

Q:

Prepare the statement of cash flow for year ended December 31, Year 10 Note: Amounts to be deducted should be indicated with a minus sign. The account balances of Pacilio Security Services,...

Q:

can you help me please complete those tables Post the transactions to the T-accounts. Prepare a trial balance. Prepare an income statement, statement of changes in stockholders' equity, classified...

Q:

pls help Journal entry worksheet Prepare the journal entries to record transactions (1) through (24). Then prepare the necessary adjusting entries (25) th correctly report net income for the period....

Q:

Cash inflows expected from a project are RM 28,000 for year 1, RM 22,000for year 2, RM 20,000 for year 3, RM 25,000 for year 4 and RM20,000 for year 5. Given the discount rats of10%, what is the...

Q:

1. Meacham Enterprises' bonds currently sell for $1,280 and have a par value of $1,000. They pay a $135 annual coupon and have a 15-year maturity, but they can be called in 5 years at $1,050. What is...

Q:

Wealthy was an executive of UNF, a prosperous Fortune 1 0 0 corporation. He died in April 2 0 2 4 . After Wealthy's death, UNF will make payments to his widow under the following plans. Plan A was...

Q:

Hugo decides to buy his Christmas gifts on Black Friday. To simplify his life, he is giving his 10 closest friends scarves for Christmas and everyone else Christmas cards. Hugo is willing to pay up...