Asked by Jagmohan Aulakh on Apr 28, 2024

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Verified

Another name for the Employer's Quarterly Federal Tax Return is ____.

A) Form 940
B) Form 941
C) Form W-2
D) Form W-3
E) Form W-4

Employer's Quarterly Federal Tax Return

A form filed by employers to report income taxes, Social Security tax, or Medicare tax withheld from employee's paychecks, and to pay the employer's portion of Social Security or Medicare tax.

Form 941

A federal tax form used by employers to report quarterly federal income tax withheld from employees' wages and payroll taxes.

Form 940

A tax form filed by employers to report annual Federal Unemployment Taxes (FUTA).

  • Comprehend the necessities of payroll documentation and the legal mandates for the compensation and taxation of employees.
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Verified Answer

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Maria MaldonadoMay 03, 2024
Final Answer :
B
Explanation :
Form 941 is known as the Employer's Quarterly Federal Tax Return, which employers use to report income taxes, social security tax, or Medicare tax withheld from employee's paychecks, and to pay the employer's portion of social security or Medicare tax.