FPC Payroll Fundamentals exam with complete solution
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Course
Payroll Fundamentals
Institution
Payroll Fundamentals
Worker that has Fed, OASDI, Medicare, State withheld
Employee
Worker that requires the employer to pay ER taxes
Employee
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Worker that receives W2 form
Emplo...
FPC Payroll Fundamentals exam with
complete solution
= Worker that has Fed, OASDI, Medicare, State withheld - ANSWER-
Employee
Worker that requires the employer to pay ER taxes - ANSWER-
Employee
Worker that receives W2 form - ANSWER-Employee
Worker that does not have taxes withheld - ANSWER-Independent Contractor
Worker that has TIN - ANSWER-Independent Contractor
Worker that receives 1099 Form - ANSWER-Independent Contractor
Asks how independent is the employee and how much control can be
exervised over the worker. - ANSWER-Common Law Test
A worker cannot sign a new contract stating that they will be an indepndent contractor. - ANSWER-Common Law Test
Employer has treated similar workers as independent contractors for any period and has filed tax returns - ANSWER-Reasonable Basis Test FPC Payroll Fundamentals exam with
complete solution
Longstanding industry standard of treating similar workers as independent contractors - ANSWER-Reasonable Basis Test
Court decisions for treating workers in similar circumstances as independent contractors - ANSWER-Reasonable Basis Test
IRS has ruled in a "published ruling" that the workers are indpendent contractors - ANSWER-Reasonable Basis Test
Temporary Service Provider or Leasing Company - ANSWER-Pays employees and taxes instead of company the employee is performing
services for
Immigration reform and Control Act of 1986 (IRCA) - ANSWER-
Requires employer to verify employees' eligibility for employment in the US.
Penalties for Violating IRCA - ANSWER-$375 for the first offence and $16,000 for the third
Antidiscrimination under IRCA - ANSWER-The law prohibits discrimination in hiring or recruiting workers on the basis of national origin or citizenship
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