Albert Soft Top Corp. pays quarterly wages and incurs federal employment taxes of $3,150 on said wages. The corporation makes the deposit on the required date in the amount of $3,085 (due to an inputerror in the software). Which calculation illustrates the safe harbor rules that Albert SoftTop Corp. can adhere to (assuming they pay the shortfall by the shortfall date)?Oa. $65 is under the $1,000 limit so they are covered by safe harbor rules.b. $65 is less than 2% of the required deposit, so they are covered by safe harbor rules.e $65 is less than the greater of $100 or 2% of the required deposit, so they are covered by safe harbor rules.Od. the safe harbor rules would only apply if the shortfall was greater than $62 (2% x $3,150).Darla Simpson is self-employed. Her net income for the year is $152,000. Calculate the OASDI portion of her self-employment taxes for the year.O a. $10,863.00Ob. $17,707.200Oc. $8,537.40Od. $18,848.00If a new employer incurs $100,000 of unsatisfied federal payroll tax liability in the first year of business:a. the one-day rule is triggered.b. the monthly depositor status changes to a weekly deposit schedule.c. no adjustment is made to the monthly depositor deposit schedule.d. the employer is required to petition the IRS for a new deposit schedule.

Safe Harbor rules with regard to federal payroll tax liabilities shall apply if the company's…

Albert SoftTop Corp. pays quarterty wages and incurs federal employment taxes of $3,150 on said wages. The corporation makes the deposit on the required date in the amount of $3,085 (due to an input error in the software). Which calculation illustrates the safe harbor rules that Albert SoftTop Corp. can adhere to (assuming they pay the shortfall by the shortfall date)? a. $65 is under the $1,000 limit so they are covered by safe harbor rules. b. $65 is less than 2% of the required deposit, so they are covered by safe harbor rules. $65 is less than the greater of $100 or 2% of the required deposit, so they are covered by safe harbor rules. d. the safe harbor rules would only apply if the shortfall was greater than $62 (2% x $3,150).

Albert SoftTop Corp. pays quarterty wages and incurs federal employment taxes of $3,150 on said wages. The corporation makes the deposit on the required date in the amount of $3,085 (due to an input error in the software). Which calculation illustrates the safe harbor rules that Albert SoftTop Corp. can adhere to (assuming they pay the shortfall by the shortfall date)? a. $65 is under the $1,000 limit so they are covered by safe harbor rules. b. $65 is less than 2% of the required deposit, so they are covered by safe harbor rules. $65 is less than the greater of $100 or 2% of the required deposit, so they are covered by safe harbor rules. d. the safe harbor rules would only apply if the shortfall was greater than $62 (2% x $3,150).

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter5: Introduction To Business Expenses

Section: Chapter Questions

Problem 67P

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