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Question 27/74
Employers who properly repay over-withheld amounts to employees can claim a credit against taxes due by making an adjustment on:
Correct Answer: B
Comprehensive and Detailed Explanation:
If an employer over-withholds federal taxes from an employee's paycheck, the employer can file an adjustment using Form 941-X (Adjusted Employer's Quarterly Federal Tax Return).
Form 941 (Option A) is incorrect because it is used to report current payroll taxes, not to correct past errors.
Form W-2 (Option C) is incorrect because it reports wages and taxes withheld but does not allow corrections.
Form W-4 (Option D) is incorrect because it is used by employees to adjust withholding allowances.
Reference:
IRS - Instructions for Form 941-X
Payroll.org - Payroll Tax Adjustments and Corrections
If an employer over-withholds federal taxes from an employee's paycheck, the employer can file an adjustment using Form 941-X (Adjusted Employer's Quarterly Federal Tax Return).
Form 941 (Option A) is incorrect because it is used to report current payroll taxes, not to correct past errors.
Form W-2 (Option C) is incorrect because it reports wages and taxes withheld but does not allow corrections.
Form W-4 (Option D) is incorrect because it is used by employees to adjust withholding allowances.
Reference:
IRS - Instructions for Form 941-X
Payroll.org - Payroll Tax Adjustments and Corrections
- Question List (74q)
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- Question 26: An employee clocked in for work at 8:07 a.m. and out at 4:08...
- Question 27: Employers who properly repay over-withheld amounts to employ...
- Question 28: Employer's federal quarterly employment taxes are reported o...
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- Question 30: Which of the following general ledger accounts should normal...
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