QUESTION 1 Employees are exempt from having social security tax withheld if: the
ID: 2525610 • Letter: Q
Question
QUESTION 1
Employees are exempt from having social security tax withheld if:
they are over age 65
they are over age 67
they collect social security benefits
they write "EXEMPT" on Form W-4
none of the above reasons would exempt an employee from social security tax
QUESTION 2
FIT need not be withheld if the employee:
works for your firm one day a week or less
works for your firm part time (1 day a week) and only when called
is a student hired only for the summer
none of the above situations are exempt from FIT
all of the above situations are exempt from FIT
QUESTION 3
Carla earns $162,000 from January through November before resigning to work for a new employer who pays her $15,000 for December. How would FICA taxes be withheld on the $15,000?
only a portion of the $15,000 would be subject to both HI and OASDI
the entire $15,000 would be subject to HI, but only a portion of the $15,000 would be subject to OASDI
none of the $15,000 is subject to HI or OASDI
the entire $15,000 would be subject to both HI and OASDI
the entire $15,000 would be subject to HI, but none of the $15,000 would be subject to OASDI
they are over age 65
they are over age 67
they collect social security benefits
they write "EXEMPT" on Form W-4
none of the above reasons would exempt an employee from social security tax
Explanation / Answer
Answer :-
(1) Answer :- None of the above reasons would exempt an employee from social security tax.
There are exemption for Social Security Tax are as follows:-
(a) Non resident Person
(b) Limited Income Person
(c) Foreign Govt. Employees
(d) Qualified Religion Places
so, In this question no Employees could take benefit of exemption of Social Security Tax.
(2) Answer:- all of the above situations are exempt from FIT
(3) Answer :- only a portion of the $15,000 would be subject to both HI and OASDI
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