True or False: Direct Deposit become active as soon as the principal officer information is verified.
What is false?
100
These are the three main sections of the IOP Setup screen.
What are Employees, Taxes and Prior Payrolls?
100
These E-Services must be set up before an employer can run their first payroll.
What is federal E-Services?
100
This is how we record pay history for an employee for a closed quarter prior to coming onto service with IFSP.
What is as a lump sum check at the end of the quarter?
100
This begins on July 1 and ends on June 30 of the prior year.
What is the lookback period?
200
This is the day and time that direct deposit must be run by.
What is 2 business days before the paydate by 3pm PT?
200
This is the question asked in the employee section that will determine whether or not prior payroll needs to be entered.
What is "Have you paid any employees in the current year?"
200
The two default federal deposit schedule options if the employer is unsure of theirs.
What are semi-weekly and monthly?
200
This is how we record pay history for the current quarter.
What is by paydate?
200
39.6%
What is the 2013 federal income tax rate for supplemental wages over $1 million?
300
This is the day that a direct deposit check would clear an employee's bank account if the check date was on a Saturday and Monday was the 4th of July.
What is Friday?
300
This is the maximum number of active employees/contractors IFSP supports.
What is 150?
300
True or False: The system will automatically set an employer who does not know their rates to the highest rate.
What is true?
300
True or False: Fixed rate liabilities, such as federal income tax, will be vetted (ie, the calculations will be verified) as part of the prior payroll process.
What is false (FIT is not a fixed rate liability)?
300
An employer can use this form to request help from the IRS to determine worker classification.
What is the SS-8?
400
This is the normal direct deposit credit limit for an IFSP customer.
What is $80,000?
400
True or false: Employers can set up contractors themselves.
What is false?
400
This is the automatic tax implication in the system when a business is marked as 501(c)(3).
What is they become FUTA exempt?
400
The way to differentiate pay history in both public login as well as in the CS-Server.
What is italics?
400
AML-OFAC
What is Anti Money Laundering-Office of Foreign Assets Control?
500
This is the only type of check printing paper we support for IFSP.
What is QuickBooks compatible check stock?
500
This is the maximum number of supported garnishments per employee.
What is 2?
500
The two types of processes for tax payments.
What are ACH Credit and ACH Debit?
500
The four possible payroll start dates in IFSP
What are 1/1, 4/1, 7/1 and 10/1?
500
This is a state which has borrowed from the federal government to cover their unemployment fund, but has yet to pay the loan back.