1. What loan from the federal government given to individual states is used to provide unemployment benefits to state residents?

SWFT Comprehensive Volume 2019
42nd Edition
ISBN:9780357233306
Author:Maloney
Publisher:Maloney
Chapter12: Tax Credits And Payments
Section: Chapter Questions
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 1. What loan from the federal government given to individual states is used to provide unemployment benefits to state residents?



Answer:  
A.  
 SUTA Advances
 
 
B.  
 FUTA Advances
 
 
C.  
 Title XII Advances
 
 
D.  
 Title 15 Advances
2. The SUTA tax rate is determined by an employer’s _____.



Answer:  
A.  
 credit reduction
 
 
B.  
 FUTA tax rate
 
 
C.  
 experience rating
 
 
D.  
 Medicare tax rate
 3. Identify each item as associated with Form 1099-NEC, Form 1096, or both.



A.   Displays earnings for one individual

 
 Form 1099-NEC
 
 
 
 Form 1096
 
 
 
 Both
 
 

B.   Displays earnings for multiple individuals

 
 Form 1099-NEC
 
 
 
 Form 1096
 
 
 
 Both
 
 

C.   Requires a signature

 
 Form 1099-NEC
 
 
 
 Form 1096
 
 
 
 Both
 
 

D.   Remitted to the IRS

 
 Form 1099-NEC
 
 
 
 Form 1096
 
 
 
 Both
 
 

E.   Remitted to each independent contractor

 
 Form 1099-NEC
 
 
 
 Form 1096
 
 
 
 Both
 
 
 
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