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APA FPC Exam Questions With Correct Answers

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APA FPC Exam Questions With Correct Answers (1) Challenges in payroll - answercomplexity, communication, technology, accuracy (1) Payroll Process - answeremployee (new hire, W4, I9), payroll (reports, reconciles), gov. (tax, reporting), employee (W2, pay statements) (1) Tax withholding for emp...

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  • October 15, 2024
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  • APA FPC
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sirjoel
©SIRJOEL EXAM SOLUTIONS
12/3/2024 11:27AM



APA FPC Exam Questions With Correct
Answers


(1) Challenges in payroll - answer✔complexity, communication, technology, accuracy


(1) Payroll Process - answer✔employee (new hire, W4, I9), payroll (reports, reconciles), gov.

(tax, reporting), employee (W2, pay statements)


(1) Tax withholding for employees - answer✔FIT, SS, Medicare, state, local and pay employer

share


(1) TIN - answer✔Taxpayer Identification Number (1099s)


(1) Worker status - answer✔workers, either W2 or 1099, W2 either exempt or nonexempt


(1) Common Law Test - answer✔sets own hours, can work for multiple employers, works by the

job, can employ assistants, own tools/equipment, terms


(1) Reasonable Basis Test - answer✔employers can classify certain workers as 1099 for tax

purposes even though the ee meets requirements of Common Law test for W2 if they have a

reasonable basis for doing so (longstanding practice, judicial precedent, consistently treated

workers as 1099 with 1099-MISC form)

, ©SIRJOEL EXAM SOLUTIONS
12/3/2024 11:27AM


(1) PEO - answer✔organization bears burden of paying, withholding, reporting, providing

benefits


(1) Immigration Reform and Control Act of 1986 (IRCA) - answer✔requires employer to verify

ee eligibility for employment in the U.S.


(1) Illegal Immigrant Penalties - answer✔range from $375 for first offense, $16k for third


(1) Verification of eligibility - answer✔burden of verification falls to employer after 1986, need

I9 by 1st day of work


(1) SSA - answer✔Social Security Administration, 240 million W2/yr with 10% having numbers

that do not match


(1) Earnings Suspense File - answer✔where SSA places unposted wage amounts


(1) Employee's Withholding Allowance Certificate - answer✔W4


(1) SSNVS - answer✔Social Security Number Verification Service to verify SSN, requires

FEIN/ee name, SSN, DOB


(1) Form SS5 - answer✔Application for a Social Security Card


(1) New Hire Reporting - answer✔20 days of hire, ee name, address, ssn, date of employment,

employer name, addres, FEIN


(1) HHS - answer✔Secretary of Health and Human Services, multistate employers

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