Generally, Regular Corporations Are Not Subject to the Passive Activity

question 27

True/False

Generally, regular corporations are not subject to the passive activity rules.

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Definitions:

FICA-Medicare

The portion of the Federal Insurance Contributions Act tax that is designated to fund Medicare, the health insurance program for the elderly and certain disabled individuals.

Odd Years

Years that are not evenly divisible by two, indicating an odd number as the final digit.

W-3

A tax form used in the United States that summarizes the total wages paid and taxes withheld for all employees of a company.

FICA-Medicare

The portion of FICA taxes that funds Medicare, providing health insurance for the aged and disabled.