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V'sAccountingterms11

Chapter 11

QuestionAnswer
Employer's Annual Federal Unemployment Tax Return, Form 940 Preprinted government form used by the employer to report unemployment taxes for the calender year
Employer's Quarterly Federal Tax Return, Form 941 Preprinted government form used by the employer to report payroll tax information relating to social security, Medicare, and employee income tax withholding to the Internal Revenue Service
Experience Rating System A system that rewards an employer for maintaining steady employment conditions by reducing the firm's state unemployment tax rate
Merit Rating System Experience Rating System
Transmittal of Wage and Tax Statements, Form W-3 Preprinted government form submitted with Forms W-2 to the Social Security Administration
Unemployment Insurance Program A program that provides unemployment compensation through a tax levied on employers
Wage and Tax Statement, Form W-2 Preprinted government form that contains information about an employee's earnings and tax withholding for the year
Withholding Statement Wages and Tax Statement, Form W-2
Created by: Virajasaur