 | Learning Objectives
(See related pages)
When you have completed this chapter, you should understand the following Learning Objectives (LO):
- Explain the tax issues associated with payroll and Form 1040.
- Calculate federal income tax withholding, social security, and Medicare taxes on wages and tips.
- Describe the rules for reporting and paying payroll taxes including deposit penalties and Form 941.
- Calculate self-employment taxes, unemployment taxes, Form 940, taxes for household employees, and Schedule H.
- Determine employer payroll reporting requirements including Forms W-2 and W-3.
- Explain supplemental payments, backup withholding, Form W-9, estimated tax payments, and Form 1040-ES.
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