Question 20: Identify the incorrect statement regarding EFTPS. Answer: А. It's a free, online service for remitting federal tax payments. В. Payments can be made via phone, Internet, or wire transfer. C. When using the EFTPS, payments are due by 11:59 p.m. on the tax due date. D. Requirements for use include enrollment and setting up a unique PIN.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Question 20: Identify the incorrect statement regarding EFTPS.
Answer:
А.
O It's a free, online service for remitting federal tax payments.
В.
O Payments can be made via phone, Internet, or wire transfer.
С.
When using the EFTPS, payments are due by 11:59 p.m. on the tax due date.
D.
O Requirements for use include enrollment and setting up a unique PIN.
Transcribed Image Text:Question 20: Identify the incorrect statement regarding EFTPS. Answer: А. O It's a free, online service for remitting federal tax payments. В. O Payments can be made via phone, Internet, or wire transfer. С. When using the EFTPS, payments are due by 11:59 p.m. on the tax due date. D. O Requirements for use include enrollment and setting up a unique PIN.
Question 8: On what line of Form 940 is the total from Schedule A entered?
Answer:
А.
8 (FUTA tax before adjustments)
В.
11 (If credit reduction applies)
С.
12 (Total FUTA tax after adjustments)
D.
O 13 (FUTA tax deposited for the year)
Transcribed Image Text:Question 8: On what line of Form 940 is the total from Schedule A entered? Answer: А. 8 (FUTA tax before adjustments) В. 11 (If credit reduction applies) С. 12 (Total FUTA tax after adjustments) D. O 13 (FUTA tax deposited for the year)
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