Classified as a covered employer

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Reference no: EM131459076

1. For social security purposes, what conditions must an individual meet to be classified as a "covered" employer?

2. For social security purposes, what conditions must an individual meet to be classified as a "covered" employee?

3. In order to improve the cash flow of the company, Neal Emerald decided to postpone depositing all employment taxes a few months ago. He told his sales manager, "I'll pay up before the IRS catches up with me." What risks does Emerald face by not upholding his responsibility for the collection and payment of employment taxes?

4. On Wednesday, June 14, 20--, Jacon company had employment taxes if $25,000 that were required to be deposited on or before Wednesday, June 21. The deposit was mailed and postmarked Wednesday, June 21, and delivered on Thursday, June 22. What deposit rule is Jacon following? Was the deposit made in a timely manner?

Reference no: EM131459076

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