CPP Certified Payroll Professional APA Master Exam Practice GRADE A+ SOLUTIONS

Form SS-8 Determination of Worker Status for Purposes of Federal Employment Taxes and Income Tax Withholding Form W-9 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. The second purpose is to help the payee avoid backup withholding. The payer must collect withholding taxes on certain reportable payments for the IRS. However, if the payee certifies on the W-9 they are not subject to backup withholding they generally receive the full payment due them from the payer. This is similar to the withholding exemptions certifications found on Form W-4 for employees. Form SS-5 Apply for an original Social Security card Apply for a replacement Social Security card Change or correct information on your Social Security number record Form SS-4 Application for Employer Identification Number (EIN) Accounting equation (Balance Sheet) Assets = Liabilities + Capital Assets - Liabilities = (Shareholders' or Owners' Equity) Asset (Debit or Credit Normal Balance?) Debit Expense (Debit or Credit Normal Balance?) Debit Liability (Debit or Credit Normal Balance?) Credit Capital (Debit or Credit Normal Balance?) Credit Owners Equity (Debit or Credit Normal Balance?) Credit Revenue (Debit or Credit Normal Balance?) Credit Escheat laws Refer to unclaimed property obligations. Companies who issue checks-for wages, payroll, employee commissions, returnable garnishments, deferred compensation, payroll services or bonuseshave a potential (and probable) unclaimed property obligation. Schedule D (Form 941) to explain certain discrepancies (caused by acquisitions, statutory mergers, and consolidations) between Forms W-2, Wage and Tax Statement (Copy A), and Forms 941, Employer's QUARTERLY Federal Tax Return, for the totals of social security wages, Medicare wages and tips, social security tips, federal income tax withheld, and advance earned income credit (EIC) payments Workweek for 14 and 15-year-olds Outside school hours, and on school days including Fridays, no more than 3 hours. No more than 8 hours on a non-school day. When school is in session, no more than 18 hours per week. No more than 40 hours during a week when school is out. Between the hours of 7 a.m. And 7 p.m, extended to 9 p.m. Between June 1 and Labor Day. 1) Which form is used for Determination of Employee Work Status for Purposes of Federal Employment Taxes and Income Tax Withholding? A. Form I-9 B. Form SS-4 C. Form SS-5 D. Form SS-8 D 2) What amount must an independent contractor be paid for services rendered before an employer is obligated to give them a 1099-MISC? A. Once total reaches $600 or more B. Total payments reach $600 or more for company's fiscal year C. Total payments reach $600 or more for calendar year D. Any individual payment makes during calendar year exceeding $600 C 3) Qualified real estate agents and direct sellers are which of the following? A. Statutory Employees B. Statutory Nonemployees C. Employees D. Independent Contractors B 4) Under the common law test, the IRS examiners are to group the evidence they gather into three general types or "categories" Which of the following is not one of them? A. Behavioral control B. Financial control C. Location of work D. Relationship of the parties C 5) Which of the following is not regulated by the FLSA? A. Child labor B. Overtime pay C. Minimum Wage Rates D. 8 hour work day D 6) Agent-drivers, commission-drivers and full-time life insurance salespersons are which of the following? A. Statutory Employees B. Statutory Nonemployees C. Employees D. Independent Contractors A 7) There are three parts of the ABC test, which is not one of them? A. Business-unusual and/ or away B. Risk of loss C. Customarily independent contractor D. Absence of control B 8) Under the federal new hire reporting requirement how many days does an employer have after hire date? A. 10 days B. 20 days C. 30 days D. 40 days B 9) What is Form I-9 used for? A. Application for Employer Identification Number B. Determination of Employee Work Status C. Application for IRS Individual Taxpayer D. Employment Eligibility Verification D 10) Under the reasonable basis test, which of the following does not support an employer's treatment of a worker as an independent contractor? A. Past IRS employment tax audit B. Published IRS rulings C. Place of work D. Private letter rulings C 11) What does FLSA stand for? A. Federal Labor Standards Act B. Fair Labor Standards Act C. Federal Labor Standards Agency D. Fair Labor Standards Agency B 12) Which of the following is not covered under the FLSA? A. Regulate how often employees must be paid B. Mandates equal pay for equal work C. Requires recordkeeping by employers D. sets the minimum wage and overtime rates employees must receive for their work A 13) Who enforces the Federal Wage-Hour Law? A. Individual States B. IRS C. EEOC D. DOL D 14) Who enforces the equal pay provisions? A. Individual States B. IRS C. EEOC D. DOL C 15) Which is not one of the White Collar Exemption? A. Administrative B. Executive C. Management D. Professional employees C 16) For overtime pay Which one is included in the regular rate? A. Discretionary bonuses B. Nondiscretionary bonuses C. Gifts D. Reimbursed expenses B 17) For calculation of overtime pay Which one is not included in the regular rate? CONTINUED......