CPP CERTIFIED PAYROLL PROFESSIONAL
CERTIFICATION EXAM 2026 COMPLETE
ANSWER COMPENDIUM
◉940. Answer: Use Form 940 to report your annual Federal
Unemployment Tax Act (FUTA) tax. Together with state
unemployment tax systems, the FUTA tax provides funds for paying
unemployment compensation to workers who have lost their jobs.
Most employers pay both a federal and a state unemployment tax.
Only employers pay FUTA tax.
◉941. Answer: Form 941 is a quarterly report of wages paid to
employees and withholdings made by employers. It also includes
information on the employer's share of Medicare and Social Security
taxes during the period reported. 941 forms must be mailed or e-
filed to the IRS. Schedule D on the 941 is to explain discrepancies
caused by acquisistions.
◉941-M. Answer: Employers that fail to w/h or deposit taxes or file
returns on time.
◉941X. Answer: The IRS requires businesses to report Form 941
errors on Form 941X, the Adjusted Employer's Quarterly Federal Tax
Return or Claim for Refund.Form 941X is a stand-alone form that
relates line-by-line to Form 941.
CERTIFICATION EXAM 2026 COMPLETE
ANSWER COMPENDIUM
◉940. Answer: Use Form 940 to report your annual Federal
Unemployment Tax Act (FUTA) tax. Together with state
unemployment tax systems, the FUTA tax provides funds for paying
unemployment compensation to workers who have lost their jobs.
Most employers pay both a federal and a state unemployment tax.
Only employers pay FUTA tax.
◉941. Answer: Form 941 is a quarterly report of wages paid to
employees and withholdings made by employers. It also includes
information on the employer's share of Medicare and Social Security
taxes during the period reported. 941 forms must be mailed or e-
filed to the IRS. Schedule D on the 941 is to explain discrepancies
caused by acquisistions.
◉941-M. Answer: Employers that fail to w/h or deposit taxes or file
returns on time.
◉941X. Answer: The IRS requires businesses to report Form 941
errors on Form 941X, the Adjusted Employer's Quarterly Federal Tax
Return or Claim for Refund.Form 941X is a stand-alone form that
relates line-by-line to Form 941.