Many types of income are taxable. In addition, different forms of income may be assessed at different tax rates. Generally speaking, there are two types oftaxable income: earned income and unearned income. Earned income is income primarily generated by being employed by an employer, including if...
Calculated as a fixed percentage of all compensation paid to an employee. c. Payable by employers for all employees. d. Withheld from the wages of all covered employees. 正确答案:A 分享到: 答案解析: Choice "A" is correct. FUTA tax is payable by the employer. It is deductible as a busi...
FICA - a tax on employees and employers that is used to fund the Social Security system withholding tax, withholding - income tax withheld from employees' wages and paid directly to the government by the employer supertax, surtax - an additional tax on certain kinds of income that has already...
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If you qualify for the child tax credit you may be eligible for an additional refundable credit. This additional credit is considered refundable because it is 'refunded' or paid to you even if you don't have enough income taxes to offset the credit (it will result in a total income tax ...
Federal Unemployment (FUTA) tax. The FUTA Act together with state unemployment systems takes care that people who have lost jobs will be paid unemployment compensation. This tax is paid by employer and not by the employee. To see more information about this tax, visit the IRS Web site....
Medicare taxes(Line 5c). The rate is 2.9 percent, and covers both employer and employee taxes owed. Additional Medicare taxes on compensation over $200,000 (Line 5d). The tax rate is 0.9%; the tax is paid solely by the employee.5 ...
This article reports that the familiar Form 941, Employer's Quarterly Federal Tax Return, which is filed annually by an estimated 6.6 million employers, has received a comprehensive facelift. The form, which is used to report wages, tips and other compensation paid, as well as Social Security,...
Credits, deductions and income reported on other forms or schedules * More important offer details and disclosures About Compare TurboTax Tax Products All online tax preparation software TurboTax online guarantees IRS Forms Self-employed tax center ...
FUTA is a payroll tax only paid by employers, not employees. The current FUTA rate is 6% with a wage limit of $7,000 for each employee per year. There’s a Tentative Credit of 5.4%, so most employers pay 0.6%. Find more info about employer taxes in our handyPayroll Resources. For ...