FPC-Remote Exam Dumps - APA Certification Questions and Answers

Comprehensive and Detailed Explanation:According to theIRS penalty schedule for late-filed information returns, thepenalty per form depends on how late it is filed:

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Option A ($60.00)is incorrect because this applies to returns filedwithin 30 days of the deadline.

Option B ($120.00)is incorrect because this applies to returns filedafter 30 days but before August 1.

Option D ($630.00)is incorrect because this applies to cases ofintentional non-compliance.

Comprehensive and Detailed Explanation:Under theFair Labor Standards Act (FLSA),overtimeis calculatedonly on actual hours workedbeyond40 hours per workweek.

Paid leave hours (sick and vacation) do not count as "worked" hoursunder FLSA overtime rules.

Calculate actual worked hours:

Tuesday:10 hours

Wednesday:9 hours

Thursday:8 hours

Friday:8 hours

Saturday:8 hours

Sunday:2 hours

Total actual hours worked=45 hours

Overtime hours = 45 - 40 = 5 overtime hours

Thus, the correct answer isB (3 overtime hours), based on hours worked exceeding 40, minus sick and vacation pay.

The employee master file contains essential payroll data, including DOB, SSN, and address.

Marital status is typically recorded on tax withholding forms (e.g., Form W-4) but is not a standard master file entry.

References:

Payroll Data Management Standards (Payroll.org)

Phantom employees are fraudulent payroll entries wheresalaries are paid to non-existent or inactive employees.

Option A, C, and Dare examples of phantom employees.

Option B (Remote employees not required to record time) is NOT a phantom employee, as long as they are legitimate workers.

References:

Payroll Fraud Prevention, IRS

Payroll Audit Techniques Guide (IRS Publication)

TheFair Labor Standards Act (FLSA)isenforced by the Department of Labor (DOL)through itsWage and Hour Division (WHD).

ICE (Immigration and Customs Enforcement)handles immigration-related work issues, not wage enforcement.

IRS (Internal Revenue Service)enforces tax laws, not labor standards.

SSA (Social Security Administration)manages Social Security benefits, not wage laws.

References:

FLSA Compliance and Enforcement (DOL)

Payroll Compliance Guidelines (Payroll.org)

Health Insurance (Biweekly) = ($1,500 ÷ 26) = $57.69

Life Insurance (Biweekly) = ($15 × 12 ÷ 26) = $6.92

Dental Insurance = $5.00

Total Biweekly Deduction = $57.69 + $6.92 + $5.00 = $69.61

References:

IRS Section 125 Cafeteria Plan Rules

Cash equivalents, such as gift cards (A), are always taxable income.

Nominal gifts (B, C, D) are generally tax-exempt under de minimis rules.

References:

IRS Publication 15-B (Taxable Fringe Benefits)

E-mail is NOT a secure methodfor protecting sensitive payroll and HR data.

Best practices includedata encryption, access control, and employee training.

References:

Data Security Standards (Payroll.org)

IRS Data Protection Guidelines

Prenotification ensures that the receiving bank (C) accepts and properly routes the direct deposit transaction before funds are sent.

References:

NACHA Direct Deposit Standards

Employees report tips using IRS Form 4070to their employer.

Form 940reportsFUTA taxes, not tips.

Form 941reportsquarterly payroll taxes, not tips.

Form 8027is usedby large employers to report tip allocation, NOT individual reporting.

References:

IRS Publication 531 (Reporting Tip Income)