Final answer:
The correct form used for the Determination of Employee Work Status for tax purposes is Form SS-8. The 1040 tax form plays a crucial role in both individual financial responsibility and as a tool of fiscal policy, with changes to the tax code affecting the broader economy. Option D
Step-by-step explanation:
The form used for Determination of Employee Work Status for purposes of federal employment taxes and income tax withholding is Form SS-8. To clarify the options provided:
Form I-9 is used to verify the identity and employment authorization of individuals hired for employment in the United States; Form SS-4 is the application for an Employer Identification Number (EIN); and Form SS-5 is the application for a Social Security Card. Therefore, the correct answer to the question is D. Form SS-8.
When it comes to tax forms and their role, the 1040 tax form is an essential document that reflects fiscal policy and individual financial responsibility to the government. Major changes in the U.S. tax code that affect the 1040 form can significantly impact the economy.
It is important for individuals and firms to understand their tax obligations, which could include several types of federal taxes for a corporation with a single employee or different taxes for a self-employed individual with an unincorporated business. Option D