Chap 11

Question 1

Employer’s Annual Federal Unemployment Tax Return, Form 940

Answer 1

preprinted government form used by the employer to report unemployment taxes for the calendar year.

Question 2

Employer’s Quarterly Federal Tax Return, Form 941

Answer 2

preprinted government form used by the employer to report payroll tax information relating to social security, Medicare, and employee income tax withholding to the IRS.

Question 3

Experience Rating System

Answer 3

a system that rewards an employer for maintaining steady employment conditions by reducing the firm’s state unemployment tax rate; Merit Rating System

Question 4

Transmittal of Wage and Tax Statements, Form W-3

Answer 4

preprinted government form submitted with Forms W-2 to the social security administration.

Question 5

Unemployment Insurance Program

Answer 5

a program that provides unemployment compensation through a tax levied on employers.

Question 6

Wage and Tax Statement, Form W-2

Answer 6

preprinted government form that contains information about an employee’s earnings and tax withholdings for the year.

Question 7

Withholding Statement

Answer 7

Form W-2