Requires employers to verify employee’s identity and authorization to work in the United States.
What is the Immigration and Reform Control Act (IRCA)?
(PR Source, 10.3-4)
100
Under Internal Revenue Code (IRC) Section 132 Fringe Benefit Exemptions, these employees are 5% owners OR earn greater than $170,000.
What is Highly Compensated or KEY employees? (PR Source, 3.3-1)
100
This legislation governs minimum wage, overtime pay, and child labor.
What is FLSA (Fair Labor Standards Act)? (PR Source, 2.1)
100
These Federal forms are due on the last day of the month following each quarter’s end.
What are Form 941’s? (PR Source, 8.3-2)
100
This form is required to be kept at least 4 years from the date the information is used to prepare the employee’s tax return.
What is Form W-4? (PR Source, 10.8-2)
200
Requires some employers to extend up to 12 weeks of unpaid leave to eligible employees.
What is Family and Medical Leave Act of 1993?
(PR Source, 10.3-5)
200
The value of an employer-provided cell phone for business reasons is considered this type of fringe benefit.
What is Working Condition? (IRS Publication 15-B, pg 11)
200
This is calculated by dividing the total regular pay actually earned for the workweek by the total number of hours worked.
What is the Regular Rate of Pay? (PR Source, G-25)
200
Must deposit on this schedule if your Form 941 deposits are $50,000 or more.
What is a Semiweekly Schedule Depositor? (IRS Publication 15, pg 25)
200
The monthly excludable limit for transit passes, vouchers and bus tokens.
What is $255? (IRS Publication 15-B, pg 19)
300
Employers must offer continued health insurance coverage at group rates to termed employees and qualifying beneficiaries.
What is COBRA (Consolidated Omnibus Budget Reconciliation Act of 1985)?
(PR Source, G-6)
300
The limit of Dependent Group Term Life Insurance (GTL) that is not taxable.
What is $2,000.00? (IRS Publication 15-B, pg 13)
300
The consecutive 7-day period chosen by the employer
What is a workweek? (PR Source, G-32)
300
Use this form to claim a refund for overpayment or abatement of penalties for prior period adjustments.
What is Form 843? (IRS Publication 15, pg 32)
300
These nontaxable amounts are reported in Box 12 with Code DD.
What is the cost of employer-sponsored health coverage? (PR Source, 8.8-3)
400
Requires Applicable Large Employers to offer ‘affordable’ health care coverage to full-time employees.
What is the Affordable Care Act (ACA)?
(PR Source, 4.1-1)
400
The maximum discount % allowed for services to employees.
What is 20% (of the price charged to non-employees for the service)? (IRS Publication 15-B, pg 10)
400
This class of employees (bona fide Administrative, Executive, Professionals and Computer Professionals) is exempt from FLSA minimum wage/OT rules.
Who are “White Collar” employees? (PR Source, 2.4-1)
400
An annual period starting July 1 through June 30 used to determine Tax Deposit Schedule
What is the Lookback Period? (IRS Publication 15, pg 25)
400
Employers are required to withhold from non-employee compensation at this rate if no Form W-9 is received.
What is 28%? (PR Source, 6.5)
500
Employers with contracts exceeding $10,000 for providing equipment, materials and supplies.
What is the Walsh-Healey Public Contracts Act?
(PR Source, 2.10-1)
500
These reimbursements paid directly to employees are reported in Box 12 of Form W-2 with Code P.
What are Qualified Moving Expenses? (PR Source, 3.3-2)
500
This test provides that ALL employees are protected under FLSA IF a minimum of 2 employees are involved in interstate commerce AND the employer’s annual gross sales are at least $500,000 or more. :
What is Enterprise Coverage? (PR Source, 2.3)
500
The IRS allows an under-deposit of this % without penalty if paid within 5 days.
What is 2%? (IRS Publication 15, pg 27)
500
This type of workweek arrangement guarantees a fixed salary for irregular hours as well as a set amount of overtime pay.
What is Belo-Type Constant Wage Plan? (PR Source, 2.6-4)