Reference no: EM132507237

Question 1: Determine if the statements below are true or false. If the answer is false, provide the correct statement. . Include 2 citations and references to support each of your correct statements. Then, submit your assessment as a Word document.

1. If your total tax liability is less than $2,500 for the year, employment taxes for your business included on Form 944 may be paid when you file Form 941.
2. If your total tax liability is $2,500 or more for the year, but less than $2,500 for the quarter, you can deposit by the last day of the month after the end of a quarter. However, if your fourth quarter tax liability is less than $2,500, you may pay the fourth quarter's tax liability with Form 941.
3. If your total tax liability of over $2,500 for a quarter, you must deposit monthly or semi-weekly, depending upon your schedule. 
4. A Schedule A (Form 940) must be filed when you are going to be late paying your quarterly tax liability. 
5. State Unemployment Tax Law reports required of the employers of individuals states vary state by state but there are 3 required reports.