Certified payroll professional Module 7 CPP questions with complete solutions

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 correct answers Generally "looks back over" a 12-month period. The lookback period is the 12 month period from July 1 of the second previous year through June 30 of the previous year. Payments after the death of the employee correct answers Exempt from federal income tax withholding. However, they are reported on Form 1099-MISC (Box 3, Other Income). Subject to social security and medicare tax withholding What is Form W-2? correct answers FORM W-2, WAGE AND TAX STATEMENT, IS FILED WITH THE SSA REPORTING WAGES, FITW, SOCIAL SECURITY AND MEDICARE WAGES AND TAXES, AND OTHER INFORMATION. FORM W-2 IS FURNISHED TO EMPLOYEES AND SSA BY 1/31. Form W-2 Box 3: correct answers FORM W-2 BOX 3, SOCIAL SECURITY WAGES, IS USED TO REPORT AN EMPLOYEE'S WAGES SUBJECT TO THE S