Certified Payroll Professional

Form SS-8 correct answers Determination of Worker Status for Purposes of Federal Employment Taxes and Income Tax Withholding Form W-9 correct answers First, it is used by third parties to collect identifying information to help file information returns with the IRS. The form is never actually sent to the IRS, but is maintained by the person who files the information return for verification purposes. The information on the Form W-9 and the payment made are reported on a Form 1099....

Application for Employer ID Number correct answers SS-4 Application for a SS Card correct answers SS-5 Determination of Worker Status for Purposes of Federal Employment Taxes and Income Tax Withholding correct answers SS-8 Wage and Tax Statement correct answers W-2 Corrected Wage and Tax Statement correct answers W-2C Transmittal of Wage and Tax Statement correct answers W-3 Transmittal of Corrected Wage and Tax Statement correct answers W-3C Employee's...

Semiweekly depositor - Pay days on: Saturday, Sunday, Monday, and Tuesday correct answers Deposit Due The next Friday Semiweekly depositor - Pay days on: Wednesday, Thursday, and Friday correct answers Deposit Due The next Wednesday Monthly depositors correct answers Employers with $50,000 or less in employment tax liability during the lookback period. Must deposit their accumulated tax liability for each calendar month by the 15th of the following month. Lookback period ...

ABA Routing Number correct answers This 9-digit number is assigned by the American Bankers Association and is used to identify individual banks. When performing an ACH transfer from one bank account to another, this number is used to assist the electronic routing of funds. Access Number correct answers a telephone number used by the modem in a computer to communicate with an Internet Service Provider allowing for online access. ACH (Automated Clearing House) correct answers A proc...

Under the Internal Revenue Code (IRC), an employer has the following obligations for employees: correct answers Withholding income tax Withholding social security tax Withholding Medicare tax Paying employer's share of social security tax Paying employer's share of Medicare tax Paying federal unemployment tax Name several types of workers correct answers Common Law Employee Independent Contractor Statutory Employee Statutory Nonemployee Temporary Help Agency Employee Leased ...

2022 Adoption Assistance Amount $14,890; not FIT, but all other; code T (tots) 2022 Commuting Valuation Amount $1.50/way; $3.00/round-trip Notes: 1.) Vehicle is owned/leased by ER and provided for use in connection with the business 2.) Requires employee to commute 3) Written policy prohibiting personal use 4.) Not a control employee (private sector, corp officer earning at >$120k in 2022, director; earns >$245k or 1% owner. Public sector - elected official or earns > fed exec l...

T/F: The responsibility for determining the employment status of an individual who performs services rests with the employer. correct answers True T/F: An accountant who provides bookkeeping and payroll services to several local businesses and works at her own office is an independent contractor. correct answers True T/F: Telemarketers working under the direction of a company are usually independent contractors. correct answers False T/F: Workers hired through a temporary help ...

Social Security Wage Base correct answers $147,000 Social Security Tax Rate correct answers 6.2% Medicare Wage Base correct answers None Medicare Tax Rate correct answers 1.45% 401k, 457, 408, Max Contribution correct answers $20,500/$6,500 (catch up if over 50+) Per Diem Rates correct answers $296 Optional Flat Rate Method correct answers 22% / 37% if over $1m Business Mileage Rate correct answers .585 Employer Provided Parking correct answers ...

CPP correct answers Certified Payroll Professional FPC correct answers Fundamental Payroll Certification 5. From what taxes are cafeteria plan contributions generally exempt? A. Social Security, Medicare, FIT, and FUTA B. FIT and SIT C. Social Security, Medicare, FUTA, and SUI D. Social Security, Medicare, FIT, and SIT correct answers A 7. From question #6, in which boxes on the W-2 would you report the adoption assistance? A. Boxes 3, 4, 5, 6 B. Boxes 1, 2, 3, 4,...

From what taxes are cafeteria plan contributions generally exempt? A. SS, Medi, FIT, and FUTA B. FIT and SIT C. SS, Medi, FUTA, and SUI D. SS, Medi, FIT, and SIT correct answers A. Social Security, Medicare, FIT, and FUTA Reference 4.5 Cafeteria Plans In which boxes on the W-2 would you report the adoption assistance? A. Boxes 3, 4, 5, 6 B. Boxes 1, 2, 3, 4, 5, 6, 12 - Code T C. Boxes 3, 4, 5, 6, 12 - Code A D. Boxes 3, 4, 5, 6, 12- Code T correct answers D. Boxes 3, 4,...