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ATLS POST TEST T EXAM|| NEWEST ACTUAL EXAM
COMPLETE QUESTIONS AND CORRECT DETAILED
ANSWERS WITH EXPLANATIONS (VERIFIED
ANSWERS) |ALREADY GRADED A+||NEWEST EXAM!!!
What is the minimum amount of declared tips an
employee reports each month that requires an employer to
withhold federal taxes from the employee's tips?
A. $20.00
B. $30.00
C. $40.00
D. $50.00 - ANSWER-A. $20.00
Sec 2.5
Which of the following statements is true regarding payroll
tax deposits?
A. A monthly depositor must deposit tax liabilities by the
last day of the following month.
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B. Employers reporting more than $50,000.00 in payroll
taxes during the lookback period are semiweekly
depositors.
C. Monthly depositors with accumulated payroll taxes
over $3,000.00 for a month can deposit the taxes due with
their quarterly tax return.
D. Semiweekly depositors with tax liabilities incurred on a
Saturday or Sunday must deposit the liability by the
following Wednesday. - ANSWER-B. Employers reporting
more than $50,000.00 in payroll taxes during the lookback
period are semiweekly depositors.
Sec 4.1
How does imputed income impact an employee's net pay?
A. It decreases the taxes by the imputed income.
B. It increases the pay by the imputed income.
C. It decreases the net pay by the additional taxes.
D. It increases the pay by the taxes paid by the employer.
- ANSWER-C. It decreases the net pay by the additional
taxes.
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Sec 2.4
During the current year, an employee repays wages paid
in a prior year. The payroll department should:
A. do nothing.
B. refund the federal income tax withheld to the
employee.
C. advise the employee of the amount of repayments
made during the year.
D. adjust the repayments against current year wages. -
ANSWER-C. advise the employee of the amount of
repayments made during the year.
Sec 6.4
A company deposited $100,000.00 of its tax liability ten
days after the due date. What amount is the penalty for
failure to make timely deposits? - ANSWER-$5000.00
Sec 5.5
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The primary purpose of batch controls is to:
A. facilitate tax reporting.
B. make filing easier.
C. validate entry accuracy.
D. meet unemployment requirements. - ANSWER-C.
validate entry accuracy.
Sec 5.2
An employee earns $70,400.00 annually and contributes
10% to a 401(k) plan. The employee claims Married and 2
allowances on Form W-4. Using the Wage-Bracket
Method, calculate the annual amount of federal income,
social security, and Medicare taxes that must be withheld
from the employee's 401(k) contribution. - ANSWER-
$538.56
Sec 3.6
An employee, claiming single with 0 allowances on Form
W-4, earns $50,000.00 annually, paid biweekly and
ATLS POST TEST T EXAM|| NEWEST ACTUAL EXAM
COMPLETE QUESTIONS AND CORRECT DETAILED
ANSWERS WITH EXPLANATIONS (VERIFIED
ANSWERS) |ALREADY GRADED A+||NEWEST EXAM!!!
What is the minimum amount of declared tips an
employee reports each month that requires an employer to
withhold federal taxes from the employee's tips?
A. $20.00
B. $30.00
C. $40.00
D. $50.00 - ANSWER-A. $20.00
Sec 2.5
Which of the following statements is true regarding payroll
tax deposits?
A. A monthly depositor must deposit tax liabilities by the
last day of the following month.
,2|Page
B. Employers reporting more than $50,000.00 in payroll
taxes during the lookback period are semiweekly
depositors.
C. Monthly depositors with accumulated payroll taxes
over $3,000.00 for a month can deposit the taxes due with
their quarterly tax return.
D. Semiweekly depositors with tax liabilities incurred on a
Saturday or Sunday must deposit the liability by the
following Wednesday. - ANSWER-B. Employers reporting
more than $50,000.00 in payroll taxes during the lookback
period are semiweekly depositors.
Sec 4.1
How does imputed income impact an employee's net pay?
A. It decreases the taxes by the imputed income.
B. It increases the pay by the imputed income.
C. It decreases the net pay by the additional taxes.
D. It increases the pay by the taxes paid by the employer.
- ANSWER-C. It decreases the net pay by the additional
taxes.
,3|Page
Sec 2.4
During the current year, an employee repays wages paid
in a prior year. The payroll department should:
A. do nothing.
B. refund the federal income tax withheld to the
employee.
C. advise the employee of the amount of repayments
made during the year.
D. adjust the repayments against current year wages. -
ANSWER-C. advise the employee of the amount of
repayments made during the year.
Sec 6.4
A company deposited $100,000.00 of its tax liability ten
days after the due date. What amount is the penalty for
failure to make timely deposits? - ANSWER-$5000.00
Sec 5.5
, 4|Page
The primary purpose of batch controls is to:
A. facilitate tax reporting.
B. make filing easier.
C. validate entry accuracy.
D. meet unemployment requirements. - ANSWER-C.
validate entry accuracy.
Sec 5.2
An employee earns $70,400.00 annually and contributes
10% to a 401(k) plan. The employee claims Married and 2
allowances on Form W-4. Using the Wage-Bracket
Method, calculate the annual amount of federal income,
social security, and Medicare taxes that must be withheld
from the employee's 401(k) contribution. - ANSWER-
$538.56
Sec 3.6
An employee, claiming single with 0 allowances on Form
W-4, earns $50,000.00 annually, paid biweekly and
