Employment Taxes - 2 Credit Hours (TAX175)
The funding for the United States government’s operations and its various programs occurs through the tax system. The history of the U.S. includes various levies, such as tariffs, custom duties and excise taxes, which were adopted to finance the government’s needs at the time, including war efforts. The 16th Amendment to the United States Constitution, which was ratified in 1913, authorized Congress to enact an income tax. Since that time the U.S. government and tax system have evolved to include different forms of taxes and programs enacted such as Social Security and Medicare that remain in place today.
After completing this course, you should be able to:
· Recognize the funding sources for the federal government.
· Recognize an employer’s income and employment tax withholding and reporting requirements.
· Recognize the consequences and penalties for non-compliance with requirements.
· Identify whether internal controls are adequate to ensure compliance with tax withholding and reporting requirements.
· Recognize improper employment tax evasion schemes.
· Recognize the potential penalties and implications of willful evasion of employment tax requirements.
Program Level: Basic Prerequisites: None Advanced Preparation: None Instructional Method: This program is a QAS Self Study offering. Field of Study: Business Law
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