Why Does the Employer Fill Out an IRS Form 940

question 50

Multiple Choice

Why does the employer fill out an IRS form 940 every year?

• A)to report income taxes withheld from employee wages
• B)to report federal unemployment tax
• C)to report the number of employees from their company who have filed for unemployment
• D)to report the number of employees who filed a workers' compensation claim

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Definitions:

High Voltage

An electrical voltage that is significantly higher than standard utility voltages, typically defined as above 1000 volts.

Cable Shield

A conductive layer, usually made of metal, that envelops a cable to protect its signal from interference.

Government Securities

Government Securities are financial instruments issued by the government to borrow money from investors, such as Treasury bonds, bills, and notes.

Bank Assets

Bank assets are resources owned by a bank, including loans, securities, and cash, which generate income.