This year, Firm Q, a cash basis taxpayer, remitted $26,800 FICA payroll tax to the federal government.

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This year, Firm Q, a cash basis taxpayer, remitted $26,800 FICA payroll tax to the federal government. However, the firm deducted only $13,400 FICA tax on its income tax return. Can you explain this apparent inconsistency?

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Principles Of Taxation For Business And Investment Planning 2018

ISBN: 9781259713729

21st Edition

Authors: Sally Jones, Shelley C. Rhoades Catanach, Sandra R Callaghan

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Question Posted: Oct 31, 2017 01:57 AM

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This year, Firm Q, a cash basis taxpayer, remitted $26,800 FICA payroll tax to the federal government.

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Firm Q remitted 13400 employer payro...View the full answer

Principles Of Taxation For Business And Investment Planning 2018

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