Form 941 tax
Form 941 tax is another term used to describe FIT, OASDI, and Medicare. This name comes from the form used to report these taxes.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- Form 941 tax. Another term used to describe FIT, OASDI, and Medicare. This name comes from the form used to report these taxes.
Related concepts
- Accounting (alternatively known as accountancy) is management of financial data, information, and knowledge about financial transactions of legal entities. Accountancy tends to include bookkeeping and, depending on a particilar enterprise, may also include quatitative analysis of financial data in the bookkeeping system and/or business intelligence.
