Questions from General Taxation

Q: To determine the amount of credit for the elderly or the disabled

To determine the amount of credit for the elderly or the disabled, the appropriate base amount must be adjusted by the effect of two items. What are those two items, and in what way is the base amoun...

Q: Explain what qualifies as education expenses for the purposes of educational tax

Explain what qualifies as education expenses for the purposes of educational tax credits.

Q: Briefly explain when and how each of the two education credits is

Briefly explain when and how each of the two education credits is phased out.

Q: What is a lookback period?

What is a lookback period?

Q: When must monthly and semiweekly schedule depositors make their deposits? What

When must monthly and semiweekly schedule depositors make their deposits? What taxes must be deposited?

Q: What are the penalties for not making timely payroll deposits?

What are the penalties for not making timely payroll deposits?

Q: If a business fails to make payroll deposits, who is held

If a business fails to make payroll deposits, who is held responsible?

Q: What individuals are subject to the payroll taxes on household employees?

What individuals are subject to the payroll taxes on household employees?

Q: How does an employer report wages to the employee, the federal

How does an employer report wages to the employee, the federal government, and the Social Security Administration? When is this notification due?

Q: What are the penalties imposed on employers for filing incorrect W-

What are the penalties imposed on employers for filing incorrect W-2s?