FPC-REMOTE Online Practice Questions and Answers

What form must a penisioner file to have input into the amount of federal income tax withheld?

A. w4

B. w4P

C. w4s

D. w9

For a payment after the employees death in the year AFTER the death, what taxes, if any, will be withheld?

A. federal income tax only

B. social security and medicare taxes only

C. federal income and social security and medicare taxes

D. no taxes will be withheld

A superintendent of schools who will be 49 years of age on Dec 31 2020 earns $100,000. his school district has a 403b plan. what is the maximum that he can contribute to this plan before taxes in 2020?

A. $19,000

B. $19,500

C. $25,000

D. $26,000

All employees must complete a new form w4 each year

A. TRUE

B. False

An employer contributes $175 per month to an employee's cafeteria plan. since her husband has medical/dental coverage through his employer, she wants to take the $175 per month in cash. which of the following statements is true?

A. this option is not available; if the amount is not spent, it is lost

B. the $175 becomes taxable income

C. only social security tax and medicare tax are withheld from the $175 per month.

D. the $175 is a tax free benefit to her.

An employee earns $40,000 annually. claiming single with no entries on lines 2,3, or 4 on her 2020 form W4, she contributes $6,000 annually to her 401k. How much must be withheld for federal income tax, social security, and or medicare tax on contribution?

A. $0

B. $459

C. $918

D. $1,779

When using the Optional Flat Rate Method, which of the following items is considered when making the calculation?

A. taxable wages

B. pay frequency

C. filing status

D. number of dependents

What federal taxes, if any, must the salesperson's employer withhold for his personal use of the company vehicle?

A. social security and medicare tax only

B. federal income tax only

C. federal income tax, social security tax, and medicare tax

D. no taxes are required to be withheld

In what part of a 2020 form w4 does an employee claim dependents?

A. step 3

B. writing below step 4c

C. step 2

D. dependents are not claimed on form W4

On thurs, an employee receives news of a family emergency that requires him to take a flight home that evening. payday is not until friday at 3pm, but he needs his paycheck to pay for the flight. when he contacts the payroll dept and explains his situation, he is told that a check will be ready for him when he stops by. Which principle of the customer service has the payroll dept exhibited?

A. reliability

B. responsiveness

C. assurance.

D. empathy

E. tangibles