FPC-REMOTE Online Practice Questions and Answers

What form must a penisioner file to have input into the amount of federal income tax withheld?

A. w4

B. w4P

C. w4s

D. w9

Which of the following is true regarding payroll tax deposits?

A. employers are penalized for failing to deposit 100% of their tax liability by the due date.

B. employers with accumulated payroll taxes under $2500 for a month can deposit the amount due with their quarterly tax return.

C. employers accumulating a tax liability of more than $50,000 in the lookback period file schedule B with form 941.

D. employers must withhold taxes on noncash fringe benefits at least quarterly.

All of the following are reasons payroll keeps records except:

A. compliance with laws

B. demonstrate accuracy of paychecks

C. demonstrate security of payroll

D. periodic reporting

A company is a monthly depositer for 2020. on payday, the company accumulates apayroll tax liability of $101,000. the payroll tax deposits for this liability must be made:

A. on or before the following wednesday

B. on or before the following friday

C. by the next business day

D. by the 15th the following month

An employee belongs to a professional organization. when his company pays his dues, the payment is:

A. taxable compensation

B. de minimis fringes

C. a working condition fringe

D. a no-additional cost service

On thurs, an employee receives news of a family emergency that requires him to take a flight home that evening. payday is not until friday at 3pm, but he needs his paycheck to pay for the flight. when he contacts the payroll dept and explains his situation, he is told that a check will be ready for him when he stops by. Which principle of the customer service has the payroll dept exhibited?

A. reliability

B. responsiveness

C. assurance.

D. empathy

E. tangibles

All of the following are tax implications of a cafeteria plan except:

A. no income tax withholding

B. no social security and medicare tax withholding

C. must withhold income, social security, and medicare taxes

D. no form W2 reporting

What is the employer's social security tax rate in 2020?

A. 1.45%

B. 6.2$

C. 7.65%

D. 12.4%

You receive a letter of inquiry concerning an employee. What should you do?

A. follow your companys policy on the release of employee info

B. ignore the letter becuase its the employees issue

C. send a short letter to the agency stating that the issue is being reviewed.

D. call the requested and tell them you plan to locate the info and send it in a few months.`

hat type of pay is included in the regular rate of pay calculation?

A. discretionary bonuses

B. paid sick leave

C. paid vacation leave

D. production bonuses