PAYROLL SOURCE TABLE OF CONTENTS

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1 PAYROLL SOURCE TABLE OF CONTENTS SECTION 1: THE EMPLOYER-EMPLOYEE RELATIONSHIP 1.1 Importance of the Determination Employee vs. Independent Contractor Common Law Test Reasonable Basis Test Employment Status Determined by Law Statutory Employees Statutory Nonemployees Temporary Help Agency Employees Other Third-Party Arrangements Leased Employees, PEOs, Statutory Employers, Payer Agents Employees Under Other Federal and State Laws Fair Labor Standards Act State Wage-Hour Laws State Income Tax Withholding Laws State Unemployment Insurance Laws State Disability Insurance Laws Worker Misclassification: Enforcement and Penalties IRS Penalties IRS Enforcement Efforts FLSA Complaints Filed With the Department of Labor State Unemployment Agencies Proof of the Right to Work in the U.S New Hire Reporting Review Questions and Exercises SECTION 2: FEDERAL AND STATE WAGE-HOUR LAWS 2.1 Fair Labor Standards Act Federal/State Relationship Employer and Employee Coverage Exempt and Nonexempt Employees White Collar Exemption Retail and Service Industry Exemption Public Sector Exempt Employees Other Exempt Employees T-1

2 The Payroll Source 2.5 Minimum Wage Tips and the Tip Credit Equal Pay for Equal Work Overtime Pay Requirements The Workweek Hours Worked Regular Rate of Pay Special Problems in Regular Rate Determinations Compensatory Time Off Compensable Time Issues Unauthorized Overtime Meal and Rest Periods Travel Time On-Call Time Waiting Time Time Spent at Meetings and Training Sessions Preliminary and Postliminary Activities Receiving Medical Attention Child Labor Restrictions Enforcement and Penalties Public Contracts Laws Walsh-Healey Public Contracts Act Wage Rates for Public Buildings and Works (Davis-Bacon and Related Acts) Contract Work Hours and Safety Standards Act Service Contract Act Copeland Anti-Kickback Act State Wage-Hour Charts State Minimum Wage Rates State Tip Credits State Overtime Pay Requirements State Meal and Rest Period Requirements Directory of State Wage and Hour Agencies Review Questions and Exercises SECTION 3: TAXABLE AND NONTAXABLE COMPENSATION 3.1 Gross Income and Wages Under the IRC Income and Employment Taxes Defined Fair Market Value Fringe Benefits Under the Internal Revenue Code Nontaxable Fringe Benefits Personal Use of Employer-Provided Vehicles Personal Use of Employer-Provided Aircraft Free or Discounted Commercial Flights Discounts on Property or Services T-2

3 Table of Contents Club Memberships Emergency Responder Benefits Additional Employer-Provided Benefits Life Insurance Moving Expenses Educational Assistance Group Legal Services Employee Business Travel Expense Reimbursements Employer-Provided Meals and Lodging Adoption Assistance Other Payments Advances and Overpayments Awards and Prizes Back Pay Awards Bonuses Commissions Conventions Death Benefits Dependent Care Assistance Programs Directors Fees Disaster Relief Payments Employer-Paid Taxes (Grossing-Up) Equipment Allowances Gifts Golden Parachute Payments Guaranteed Wage Payments Jury Duty Pay Leave-Sharing Plans Loans to Employees Military Pay Outplacement Services Retroactive Wage Payments Security Provided to Employees Severance or Dismissal Pay Stocks and Stock Options Strike Benefits Supplemental Unemployment Benefits Tips Uniform Allowances Vacation Pay Wages Paid After Death Withholding and Reporting Rules for Employer-Provided Benefits Withholding on Cash Fringe Benefits Withholding and Reporting on Noncash Fringe Benefits Review Questions and Exercises T-3

4 The Payroll Source SECTION 4: HEALTH, ACCIDENT, AND RETIREMENT BENEFITS 4.1 Health Insurance Affordable Care Act Health Insurance Requirements Tax Treatment of Contributions and Benefits Medical Savings Accounts Long-Term Care Insurance COBRA Health Insurance Continuation Health Reimbursement Arrangements Health Savings Accounts Family and Medical Leave Act Sick Pay Sick Leave Pay Sick Pay Under a Separate Plan Permanent Disability Benefits Workers Compensation Insurance Benefit Payments Premium Payments Cafeteria Plans What Benefits Can Be Offered How Cafeteria Plans Are Funded What the Cafeteria Plan Document Must Contain Benefit Elections Who Can Participate in the Plan Nondiscrimination Testing Flexible Spending Arrangements Tax Treatment of Cafeteria Plans Reporting Requirements Retirement and Deferred Compensation Plans Qualified Pension and Profit-Sharing Plans (IRC 401(a)) Cash or Deferred Arrangements (IRC 401(k)) Tax-Sheltered Annuities (IRC 403(b)) Deferred Compensation Plans for the Public Sector and Tax-Exempt Groups (IRC 457(b)) Employee-Funded Plans (IRC 501(c)(18)(D)) Individual Retirement Accounts Simplified Employee Pensions (IRC 408(k)) Savings Incentive Match Plans for Employees of Small Employers (SIMPLE Plans) Employee Stock Ownership Plans Nonqualified Deferred Compensation Plans State Taxability of Cafeteria Plan and 401(k) Salary Reductions Review Questions and Exercises T-4

5 Table of Contents SECTION 5: PAYING THE EMPLOYEE 5.1 Pay Frequency Payment on Termination Payment Methods Cash or Check Direct Deposit (Electronic Funds Transfer) Electronic Paycards Pay Statements Provided to Employees Unclaimed Paychecks Wages Owed Deceased Employees Extra Paydays Caused by the Calendar Review Questions and Exercises SECTION 6: WITHHOLDING TAXES 6.1 The Principle of Actual or Constructive Payment Social Security Numbers Obtaining an Employee s SSN Verifying Social Security Numbers Employee Withholding Allowance Certificates Form W Form W-4P Form W-4S State Employee Withholding Allowance Certificates Methods of Withholding Federal Income Tax Wage-Bracket Method Percentage Method Alternative Withholding Methods Supplemental Wage Payments Withholding on Pensions and Annuities Backup Withholding Advance Earned Income Credit Social Security and Medicare Taxes Social Security and Medicare Tax Rates Social Security Wage Base Calculating the Withholding Amounts Related Corporations and the Common Paymaster Option Self-Employment Tax What Wages Are Exempt From Social Security and Medicare Taxes T-5

6 The Payroll Source What Types of Employment Are Exempt From Social Security and Medicare Taxes Railroad Retirement Tax Act State and Local Government Employees Penalties for Failure to Withhold State and Local Income Tax Withholding Review Questions and Exercises SECTION 7: UNEMPLOYMENT INSURANCE 7.1 Federal Unemployment Insurance Who Must Pay FUTA Tax What Wages Are Exempt From FUTA Tax What Types of Employment Are Exempt From FUTA Tax FUTA Tax Rate and Wage Base Depositing and Paying FUTA Tax Calculating the State Credits Against FUTA Tax Liability Reporting FUTA Tax on Form Form 940 Line-by-Line Instructions Penalties for FUTA Noncompliance State Unemployment Insurance The Employment Relationship SUI Taxable Wages Contribution Rates and Experience Rating Voluntary Contributions Joint or Combined Accounts The Unemployment Benefits Process Reporting Requirements State Disability Insurance Directory of State Employment Security Agencies Review Questions and Exercises SECTION 8: DEPOSITING AND REPORTING WITHHELD TAXES 8.1 Employer Identification Numbers Depositing Withheld Income and Employment Taxes Payroll Tax Deposit Rules How to Deposit Payroll Taxes Penalties for Failure to Deposit on Time The Employer s Employment Tax Return Form Who Must File Form When and Where to File Form Form 941 Line-by-Line Instructions T-6

7 Table of Contents Schedule B (Form 941) Schedule D (Form 941), Report of Discrepancies Caused by Acquisitions, Statutory Mergers, or Consolidations Schedule R (Form 941), Allocation Schedule for Aggregate Form 941 Filers IRS Offers Advice on Avoiding Form 941 Errors Annual Reporting of Nonpayroll Withholding Form Other Federal Employment Tax Returns Monthly Reporting for Delinquent Employers Form 941-M Employers Operating Outside the Continental U.S. Forms 941-PR and 941-SS Employers of Domestic Employees Annual Reporting by Agricultural Employers Form Annual Reporting by Small Employers Form Making Adjustments, Correcting Returns, and Obtaining Refunds and Credits Forms 941-X and Penalties for Late Reporting and Paying Tax Information Reporting for Employees Form W Employers Must Provide W-2s When and Where to Furnish Form W Box-by-Box Instructions for Form W Substitute Forms W Miscellaneous Form W-2 Issues Providing Wage and Tax Information to the SSA Form W When and Where to File Form W Box-by-Box Instructions for Form W Correcting Information Statements Forms W-2c and W-3c The Reconciliation Process for Employers Information Returns for Nonemployee Payments 1099 Series Miscellaneous Payments Made by Businesses Form 1099-MISC Pension and Retirement Plan Distributions Form 1099-R Penalties for Incorrect or Late Information Returns and Statements Failure to File Information Returns Failure to Provide Information Statements to Employees Electronic Reporting Requirements Reporting Special Wage Payments to the SSA Review Questions and Exercises SECTION 9: OTHER DEDUCTIONS FROM PAY 9.1 Involuntary Deductions Tax Levies Child Support Withholding Orders T-7

8 The Payroll Source Creditor Garnishments Bankruptcy Orders Student Loan Collections Federal Agency Debt Collections Fair Labor Standards Act Restrictions on Deductions Voluntary Deductions Wage Assignments Union Dues Credit Union Deductions U.S. Savings Bonds Charitable Contributions Review Questions and Exercises SECTION 10: RECORDKEEPING AND RECORD RETENTION 10.1 Fair Labor Standards Act Internal Revenue Code Federal Employment Laws Civil Rights Act of 1964 (Title VII) Age Discrimination in Employment Act of 1967 (ADEA) Government Contractor Regulations Immigration Reform and Control Act (IRCA) Family and Medical Leave Act (FMLA) Affordable Care Act State Unemployment Insurance Laws State Wage-Hour Laws Unclaimed Wages Direct Deposit Considerations Record Retention Procedures Employee Master File Documents Needed From New Employees Record Retention and Storage Methods Health Insurance Portability and Accountability Act Review Questions and Exercises SECTION 11: PAYROLL ACCOUNTING 11.1 Accounting Principles Account Classifications Account Balances T-8

9 Table of Contents 11.2 Journal Entries Recording Payroll Transactions Accounting Periods Accruals and Reversals Balancing and Reconciling Payroll Accounts Periodic Balancing and Reconciliation Payroll Bank Account Reconciliation Financial Statements and Audits Balance Sheet Income Statement Notes to Financial Statements Auditing Financial Statements Internal Controls Controlling Check Fraud Check 21 and Its Impact on Payroll Review Questions and Exercises SECTION 12: PAYROLL SYSTEMS AND TECHNOLOGY 12.1 Payroll System Objectives Interfacing and Integration Interfacing Working With Other Systems and Departments Integration of Payroll, Benefits, and Human Resource Systems Hardware and Software Alternatives Pros and Cons Service Providers Outsourcing the Payroll In-House Payroll Systems Selecting a Payroll System Build a Project Team Analyze What the System Needs to Do Prepare a Request for Proposal Select a System Implement the System Evaluate the System s Performance Controls and Security for the Payroll System Putting Controls Into the Process System Documentation Providing Security for the System Disaster Recovery and Business Continuity Planning Automated Time and Attendance T-9

10 The Payroll Source 12.8 The New Wave Self-Service, the Internet, and Mobile Applications Employee and Manager Self-Service Implementing Internet Technology Web-Enabled Applications Cloud Computing and Software as a Service (SaaS) Mobile Applications Review Questions and Exercises SECTION 13: MANAGING A PAYROLL DEPARTMENT 13.1 Basic Management Theory Management Skills Strategic Planning and Organizing Staffing Directing Employees Controlling Performance Reporting Specific Management Issues Conducting and Attending Meetings Keep Written Policies and Procedures Crisis Management Time Management Team Building Performance Evaluations Promoting Quality Customer Service in Payroll Providing Customer Service in a Shared Services Environment Research Needs Tracking Tax Laws and Regulations Employment Laws and Regulations Payroll-Related Websites Company Policies and Procedures Union Contracts Review Questions and Exercises SECTION 14: PAYROLL FOR U.S. EMPLOYEES ABROAD AND ALIENS IN THE U.S U.S. Citizens and Resident Aliens Working Abroad Federal Income Tax Withholding Social Security and Medicare Taxes Federal Unemployment Tax Foreign Earned Income and Housing Cost Exclusions U.S. Income Tax Treaties Employer Tax Reimbursement Policies Expatriate State Tax Issues T-10

11 Table of Contents 14.2 Resident and Nonresident Aliens Working in the U.S Determining Resident/Nonresident Alien Status Federal Income Tax Withholding and Employment Taxes for Resident Aliens Federal Income Tax Withholding for Nonresident Aliens Social Security and Medicare Taxes for Nonresident Aliens Federal Unemployment Tax for Nonresident Aliens Depositing and Reporting Obligations State Tax Issues for Nonresident Aliens Types of Visas Review Questions and Answers SECTION 15: PREPARING FOR THE CPP EXAM 15.1 History and Purpose of Certification Examination Eligibility Requirements Examination Fees Making an Examination Reservation What to Bring to the Examination Testing Center Rules Format of the Examination Electronic Testing Possible Study Aids Content of the Certification Examination Test Taking Hints How Your Examination Is Scored Your Score Report How the Passing Score Was Set Raw Scores and Scaled Scores Examination Results Attainment of Certification Recertification Recertification by Exam Recertification by Continuing Education Recertification Credits for APA Professional Membership Benefits of Being a CPP Basic Level Certification Available American Payroll Association Code of Ethics T-11

12 The Payroll Source Practice Test Number Practice Test Number Practice Test Number Practice Test Number GLOSSARY OF COMMON PAYROLL TERMS AND ACRONYMS... G-1 INDEX...I-1 T-12 1/17

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