Module 2 introduces Income Tax Withholding.

Module Outcomes:

(a) the percentage method;
(b) the wage bracket method; employment; and

(d) withholding of federal income taxes on supplementary wage payments.

(c) alternative methods such as quarterly averaging, Annualizing of wages, and part-year 4)      Explain:

(a) Form W-2;

(b) the completion of Form 941, Employer’s Quarterly Federal Tax Return,

(c) major types of information returns, and

(d) the impact of state and local income taxes on the payroll accounting process.