Asked by Brooke Lazok on May 30, 2024
Verified
A company must pay Form 941 taxes electronically if:
A) they do business in multiple states.
B) they pay more than $2,500 in a given quarter.
C) they pay less than $2,500 in a given quarter.
D) The company would never have to pay electronically.
Form 941 Taxes
Another term used to describe FIT, OASDI, and Medicare. This name comes from the form used to report these taxes.
Electronically
A method of processing or transmitting information using electronic devices and systems.
- Understand the stipulations and requirements for depositing certain payroll taxes.
Verified Answer
DA
Dilyon AqrawiMay 31, 2024
Final Answer :
B
Explanation :
Companies must pay Form 941 taxes electronically if they pay more than $2,500 in a given quarter. This is a requirement set by the IRS to streamline the tax payment process.
Learning Objectives
- Understand the stipulations and requirements for depositing certain payroll taxes.