Reference no: EM131790889

The information given below was taken from the payroll records of Clegg Company (Oregon employer) for 20--. Use the information to complete the partially illustrated Form 940 shown below. Assume that all taxes were deposited timely.

Total remuneration: $155,900

Included in the total remuneration is $3,000 of employer's contributions to the employees' 401(k) plans.

Remuneration in excess of $7,000: $66,670

Taxable remuneration by quarters:

1st quarter $43,700

2nd quarter $24,940

3rd quarter $14,360

4th quarter $3,230

If required, round your answers to two decimal places.

Part 2: Determine your FUTA tax before adjustments for 20--. If any line does NOT apply, leave it blank.

3 Total payments to all employees 3

4 Payments exempt from FUTA tax 4 Select:

5 Total of payments made to each employee in excess of $7,000 5

6 Subtotal (line 4 + line 5 = line 6) 6

7 Total taxable FUTA wages (line 3 - line 6 = line 7)

7 8 FUTA tax before adjustments (line 7 x .006 = line 8) 8

Part 5: Report your FUTA tax liability by quarter only if line 12 is more than $500. If not, go to Part 6.

16 Report the amount of your FUTA tax liability for each quarter; do NOT enter the amount you deposited. If you had no liability for a quarter, leave the line blank.

16a 1st quarter (January 1 - March 31) 16a

16b 2nd quarter (April 1 - June 30) 16b

16c 3rd quarter (July 1 - September 30) 16c

16d 4th quarter (October 1 - December 31) 16d

17 Total tax liability for the year (lines 16a + 16b + 16c + 16d = line 17) 17 Total must equal line 12.