If an Employer Fails to File an Employment Tax Return

question 93

True/False

If an employer fails to file an employment tax return on the due date, a penalty based on a certain percentage of the amount of tax required to be reported may be added to the tax.

---

Definitions:

Broadly Defined

Describes something that is regarded or classified in a very general and inclusive manner.

Substitutes

Goods or services that serve as alternatives to each other, where a rise in the price of one results in a higher demand for the other.

Market

A place or scenario where buyers and sellers interact to trade goods, services, or information, often regulated by supply and demand.

Imperfect Competition

A market structure where the conditions necessary for perfect competition are not satisfied, characterized by factors like different products and barriers to entry.