Describe the Federal Unemployment Tax Act (FUTA).
- An employer-paid tax.
- Must file a return and pay even if only one employee works there.
- Deductible to the company - Not deductible by the employee.
- Allows employers to credit the FUTA liability by the amount of State Unemployment Tax (SUTA) they pay.
See more @ another71.com/flashcards
What are the major aspects of FICA and Social Security taxes?
Aspects of FICA and Socal Security taxes:
- Paid by Employer AND Employee - Employer withholds from employee’s paycheck and must pay tax matching employee’s withholding.
- If employer under-withholds, they are required to make up the difference.
- Self-employed individuals must pay both the employer and the employee share, which is Self Employment Tax.
- People drawing Social Security may have their benefits reduced if they go back to work and earn an income
When is an employee covered by Workman’s Compensation?
Employees injured on the job get protection even if they messed up and caused the injury themselves.
Exception: If the employee intentionally harmed themselves, there is no Workman’s Compensation.
What age group is protected under Age Discrimination Laws?
They protect people ages 40 and above at companies where at least 20 people are employed.
What are the tenets of the Occupational Safety and Health Act (OSHA)?
- Employers should promote a safe workplace and environment for their employees to work in.
- Injury records must be kept.
- Penalties can be both:
* Civil - $1,000 fine per day
* Criminal - Could include imprisonment - Employer can require a search warrant for OSHA to investigate their facilities
What types of discrimination are prohibited for employers based on civil rights laws?
Based on civil rights law, employers prohibit discrimination on:
- Sex
- Race
- Religion
- National
- Origin
What are the powers granted under the Environmental Protection Act?
EPA has the power to assess civil penalties for violating environmental laws like the Clean Air Act.
- The EPA can sue violators.
- Citizens can sue violators.
- States can sue violators.
- Citizens can even sue the EPA to force enforcement.
- For hazardous waste sites: owners, operators, transporters, and lenders associated with the site can be held liable.
