Question: please please answer all the questions incomplete answers will receive thumb down 1. A _____ is a voluntary deduction that can provide a variety of

please please answer all the questions incomplete answers will receive thumb down

1.

A _____ is a voluntary deduction that can provide a variety of benefits to employees.

Answer:

A.

cafeteria plan

B.

retirement plan

C.

medical plan

D.

defined contribution plan

2A. Identify each item as an element of the wage-bracket method tax tables for employees who have completed a pre-2020 Form W-4, current Form W-4, or both.

Head of Household columns

Pre-2020 Form W-4

Current Form W-4

Both

2B.

Wage rows

Pre-2020 Form W-4

Current Form W-4

2C.

Number of Withholding Allowances columns

Pre-2020 Form W-4

Current Form W-4

2D.

Tentative Withholding amounts

Pre-2020 Form W-4

Current Form W-4

Both

2E.

Form W-4, Step 2, Checkbox Withholding columns

Pre-2020 Form W-4

Current Form W-4

Both

Both

Both

3.

Which tax, withheld in only five states, is used to provide benefits to disabled employees who are unable to work?

Answer:

A.

Federal income tax

B.

State income tax

C.

Medicare tax

D.

State disability insurance tax

4.

Which statement regarding the current Form W-4 is accurate?

Answer:

A.

It uses fewer pieces of information than the previous version to determine federal income tax.

B.

It can be used with either the wage-bracket or the percentage method of determining federal income tax.

C.

When determining federal income tax using the wage-bracket method, you can refer to the same tax tables associated with the previous version.

D.

Unlike the previous version, it calculates the number of withholding allowances.

5.

What can you use to determine federal income tax withholding?

Answer:

A.

Wage-bracket method

B.

Percentage method

C.

Pay-as-you-go method

D.

Wage-bracket or percentage method

E.

Pay-as-you-go or wage-bracket method

6. A married individual who is paid on a monthly basis, claims 3 federal withholding allowances, completed the pre-2020 Form W-4, and earns $1,495 has $______ in federal income tax withholding when using the wage-bracket method.

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!