Answered: What is the due date for submitting…

What is the due date for submitting Form 1096? Answer: A. 12/31 of the current year B. 1/31 of the subsequent year C. 3/15 of the subsequent year D. 4/15 of the subsequent year

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

1. What is the due date for submitting Form 1096?

Answer:

12/31 of the current year

1/31 of the subsequent year

3/15 of the subsequent year

D.	4/15 of the subsequent year

2. If a state is subject to a credit reduction, its employers will pay a(n) _____ FUTA rate in comparison to the previously effective rate.

Answer:

lower

higher

identical

variable

3. The earnings threshold below which no self-employment taxes are owed is _____.

Answer:

$100

$400

$7,000

$137,700

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Meaning of Credit Reduction State

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