If an Employer Owes Less Than $2,500 for FICA (OASDI

question 86

Multiple Choice

If an employer owes less than $2,500 for FICA (OASDI and Medicare) and FIT, they can submit:

• A) Form 941.
• B) Form 940.
• C) Form W-2.
• D) Form W-3.

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Definitions:

Legal Requirements

Mandates established by law that must be followed by individuals, organizations, or businesses.

Property Dividend

A dividend paid to shareholders in the form of assets other than cash, typically securities or physical assets owned by the company.

Bonds

Fixed-income investments representing a loan made by an investor to a borrower, often corporate or governmental.

Stock Dividend

A dividend paid to shareholders in the form of additional shares of the company's stock, rather than in cash.