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PRDV204: Payroll Applications

Unit 9: Payroll Tax: Deposits and Statements  

Taxes are collected from the employee.  Employers are required to collect taxes as a part of the payroll process.  The collection of taxes has a variety of layers: tax money collected directly from the employee, tax money collected from the employer as a match to the money obtained from the employee, and tax money collected directly from the employer. In this unit you will learn about depositing the taxes collected and how to create and issue W-2 wage and tax statements.

Unit 9 Time Advisory
This unit should take you approximately 3 hours to complete.

☐    Subunit 9.1: 108 minutes

☐    Subunit 9.2: 47 minutes

☐    Subunit 9.3: 25 minutes

Unit9 Learning Outcomes
Upon successful completion of this unit, the student will be able to:
- Understand how and when to complete and submit tax deposits and statements.  

9.1.1 What is an FTD?   - Reading: IRS.gov’s "What Are FTDs and Why Are They Important?" Link: IRS.gov’s "What Are FTDs and Why Are They Important?" (HTML)
 
Instructions: To review this part of the course click on the link above.  In this part of the course you will be provided with detailed information on making federal tax deposits.  This section of the course will explain who must make deposits, when the deposits should happen, and how they are made.  Within this reading there are a number of hyperlinks that will direct you to additional content.  You will have to click on each hyperlink individually to obtain the information embedded within the reading.  
 
Terms of Use: Please respect the copyright and terms of use displayed on the webpage above.
 
This reading should take you approximately 30 minutes to complete.

9.1.2 Tax Workshop—Lessons 1 through 5   - Web Media: IRS.gov’s "Small Business/Self-Employed Virtual Small Business Tax Workshop" Link: IRS.gov’s "Small Business/Self-Employed Virtual Small Business Tax Workshop" (Flash)
 
Instructions: To review this part of the course click on the link above.  In this part of the course you will be provided with detailed information on making federal tax deposits.  This section of the course will begin the nine-part lesson on understanding the various aspects of tax.  For this part of the course you should review the Introduction, as well as lessons 1 through 5.  You are greatly encouraged to take notes as you go through the lessons of the workshop.  During the workshop you will have the opportunity to respond to some scenario questions that are designed to support your learning and comprehension of this material. 
 
Terms of Use: Please respect the copyright and terms of use displayed on the webpage above.
 
This web media should take you approximately 78 minutes to complete.

9.2 Tax Statements and Payroll Wages   9.2.1 What is a W-2?   - Reading: Investopedia.com’s "Definition of W-2"

Link: Investopedia.com’s "[Definition of
W-2](http://www.investopedia.com/terms/w/w2form.asp#axzz1vnWsjklV)"
(HTML)

Instructions: To review this part of the course click on the link
above. In this part of the course you will be provided with a
definition of the term “W-2.” It is important to know the purpose of
a W-2 before you learn about what an employer needs to do, and how,
to ensure legal compliance. You should be sure to place this
information in your notes.

Terms of Use: Please respect the copyright and terms of use
displayed on the webpage above.

This reading should take you approximately 2 minutes to complete.

9.2.2 Employer W-2 Filing   - Reading: SSA.gov’s "Employer W-2 Filing Instructions & Information"

<span style="font-size: 12px;">Link: SSA.gov’s "[Employer W-2 Filing
Instructions & Information](http://www.ssa.gov/employer/)"
(HTML)</span>

<span style="font-size: 12px;">Instructions: To review this part of
the course click on the link above. In this part of the course you
will be provided with a source that explains what an employer should
do before filing, how to file electronically or on paper, and how to
verify social security numbers. Within this reading there are a
number of hyperlinks that will direct you to additional content. You
will have to click on each hyperlink individually to obtain the
information embedded within the reading. </span>

<span style="font-size: 12px;">Terms of Use: Please respect the
copyright and terms of use displayed on the webpage above.</span>

<span style="font-size: 12px;">This reading should take you
approximately 45 minutes to complete.</span>

9.3 Federal and State Wage Hour Laws Assessment   - Assessment: Proprofs.com’s "Federal and State Wage-Hour Laws"

<span style="font-size: 12px;">Link: Proprofs.com’s "[Federal and
State Wage-Hour
Laws](http://www.proprofs.com/quiz-school/story.php?title=section-2-federal-state-wagehour-laws)"
(HTML)</span>

<span style="font-size: 12px;">Instructions: To review this part of
the course click on the link above. This assessment is not graded.
You should view this assessment as a review. After answering each
question you will receive a “correct” or “incorrect” notification.
You are greatly encouraged to take notes as you work through this
assessment. </span>

<span style="font-size: 12px;">Terms of Use: Please respect the
copyright and terms of use displayed on the webpage above.</span>

<span style="font-size: 12px;">This assessment should take you
approximately 25 minutes to complete.</span>