Group Project Payroll accounting involves the use of government-supplied forms to account for payroll taxes. Three common forms are the W-2, Form 940, and Form 941. Form a team with three of your...

Group Project

Payroll accounting involves the use of government-supplied forms to account for payroll taxes.

Three common forms are the W-2, Form 940, and Form 941. Form a team with three of your classmates and retrieve copies of each of these forms. They may be obtained from a local IRS office, a library, or downloaded from the Internet at www.irs.gov (go to forms and publications).

 Briefly describe the purpose of each of the three forms.