10. Which of the following factors is a consideration of the § 530 relief regarding the employment taxes that should have been paid by the employer? a.The employer has, at times, treated the workers as independent contractors. b.Workplace fringe benefits are not available. c.The employer has decided it is more profitable to not treat the workers as employees. d.The employer filed a Form 1099–NEC for each worker. e.Reasonable basis includes reliance on the advice of a tax accountant.

If an employer does not deduct taxes and contribution from an employee. The employee has the ultimate responsibility to pay the taxes to the Revenue and the Revenue will penalize the employee.  true or false

Identify the following statement that is false.   a. If an employer is not required to withhold income taxes from an employee’s wages, the wages are not taxable to the employee.   b. In certain situations, income tax withholding by an employer is voluntary.   c. An employer must deposit with the government an amount of FICA tax that is twice the amount withheld from the employee’s salary (i.e., the employee’s and employer’s shares).   d. If an excess amount of FICA is withheld for an employee because the employee has multiple jobs, the employee may claim a credit for the excess amount withheld on his or her income tax return.

1. Which of the following items is normally NOT assessable under salaries tax? a. Payment in lieu of notice to an employee who has been dismissed without adequate notice given by the employer.   b. Tuition fee paid by an employer for an employee's children, where the employer has entered into the relevant contract with the school directly.   c. Reimbursement of medical expenses of an employee by an employer pursuant to the terms provided in the employment contract.   d. Lump sum payment to a resigning employee in consideration of his not engaging in the same industry for two years.   2. Henry Ltd is carrying on business in Hong Kong. It acquires funding from various sources in Hong Kong and makes investment in securities listed in overseas markets. Henry Ltd's directors carry out investment analysis in Hong Kong and instruct its overseas agents to execute the orders of purchase and sale in the overseas stock exchange. During the year 2020/21, $10 million profits were derived from…