FPC Prep Exam Questions With Correct
Answers A+
Challenges of Payroll: - Answer✔- Complexity
- Communication
- Technology
- Accuracy
Payroll Process - Answer✔Employee >> Payroll >> Government >> Employee
What taxes must be withheld from an employees paycheck? - Answer✔- Federal Income Tax
- Social Security Tax
- Medicare Tax
- State Income Tax
- Local Income Tax
What taxes must an employer pay on their employees paychecks? - Answer✔- Social Security
Tax
- Medicare Tax
- Federal Unemployment contributions
- State Unemployment contributions
2 Types of Worker Status: - Answer✔Employee (w-2)
Independent Contractor (1099)
The common law test is based off of - Answer✔1- how independent is the worker
2- how much control is held over the worker
Who is required by the immigration Reform and Control Act (IRCA) to verify employee's
eligibility of employment in the U.S? - Answer✔The Employer
1