CPP Payroll 261 |Review | Questions with 100% Correct Answers | Verified | Latest Update

retention records: How long for IRS? - ️️4 years (3 is 4) reduceing taxable income: 401k come out of fed. cafe comes out of all FIT, SS and MED - ️️note What does Fair Labor Standards Act regulate? - ️️1. Overtime 2. Minimum rate of pay 3. Child Labor Laws 4. Equal pay retention records: How long for FLSA? - ️️3 years (4 is 3) 3 yeas after the last date of entry or 3 years from the last date they were effective What records for FLSA must be kept for 3 years after the last date of entry? - ️️Beginning of workweek Housre worked each workday Regular rate of pay Overtime premium earnings Additions and deductions from wages What records for FLSA must be kept for 3 years after the last date they were effective? - ️️Collective Bargaining agreements Records showing total sales volume and goods purchased