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Accounting Ch 9
College Accounting Ch 9
| Question | Answer |
|---|---|
| Electronic Federal Tax Payment System (EFTPS) | An electronic funds transfer system for making federal tax deposits. |
| Employer FICA Taxes | Taxes levied on employers at the same rates and on the same earnings bases as the employee FICA taxes. |
| Employer Identification Number (EIN) | A number that identifies the employer on all payroll forms and reports filed the IRS. |
| FUTA (Federal Unemployment Tax Act) Tax | A tax levied in employers to raise funds to administer the federal/state unemployment compensation program. |
| Merit-Rating System | A system to encourage employers to provide regular employment to workers. |
| Self-Employment Income | The net income of a trade or business run by an individual. |
| Self-Employment Tax | A contribution to the FICA program. |
| SUTA (State Unemployment Tax) Tax | A tax levied on employers to raise funds to pay unemployment benefits. |
| Workers' Compensation Insurance | Provides insurance for employees who suffer a job-related illness or injury. |
Created by:
dengler
on 2011-10-10