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Question 11/74
Workers' compensation payments are excluded from gross income and employment taxes EXCEPT when the amounts received:
Correct Answer: B
Workers' compensation benefits are tax-exempt if they are paid for work-related injuries or illnesses.
If payments are received for non-work-related illnesses (B), they become taxable.
Amounts that do not exceed federal or state limits (C & D) remain tax-exempt.
Reference:
IRS Publication 525 (Taxable and Nontaxable Income)
If payments are received for non-work-related illnesses (B), they become taxable.
Amounts that do not exceed federal or state limits (C & D) remain tax-exempt.
Reference:
IRS Publication 525 (Taxable and Nontaxable Income)
- Question List (74q)
- Question 1: Documentation on legislative changes to Forms W-2 and W-3 is...
- Question 2: Report backup withholding to the IRS using:...
- Question 3: Which of the following situations does NOT reflect construct...
- Question 4: Which of the following documents listed on Form I-9 can be u...
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- Question 8: Using the following information from a payroll register, cal...
- Question 9: What information is reported to the IRS on Form 1094-C?...
- Question 10: The FLSA requires employers to retain employee work time sch...
- Question 11: Workers' compensation payments are excluded from gross incom...
- Question 12: All of the following criteria are used to determine FMLA eli...
- Question 13: Which of the following forms is used by an employer to file ...
- Question 14: Failure to create a payroll ACH file is a violation of which...
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- Question 16: Which of the following factors is NOT used to determine a SU...
- Question 17: An employee has YTD wages in the amount of $250,000.00 and r...
- Question 18: Using the following information, calculate the imputed incom...
- Question 19: Which of the following criteria is NOT used to determine if ...
- Question 20: To identify an out-of-balance general ledger account, all of...
- Question 21: Under the CCPA, use the following information to calculate t...
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- Question 23: Which organization should be contacted when placing a stop p...
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- Question 27: Employers who properly repay over-withheld amounts to employ...
- Question 28: Employer's federal quarterly employment taxes are reported o...
- Question 29: Which of the following awards are included in an employee's ...
- Question 30: Which of the following general ledger accounts should normal...
- Question 31: All of the following statements are correct regarding indepe...
- Question 32: An employee has received $169,000.00 in YTD earnings. The em...
- Question 33: A mechanism which facilitates local tax withholding for an e...
- Question 34: Which of the following taxes are NOT withheld from allocated...
- Question 35: Employees may report tips to the employer using:...
- Question 36: Which activity does NOT indicate a data breach has occurred?...
- Question 37: The FINAL phase of the accounting process involves the:...
- Question 38: What is the purpose of Form I-9?...
- Question 39: Employers can take advantage of all of the following afforda...
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- Question 41: When a payer receives a "B" Notice, it must send a copy of t...
- Question 42: When an employer allocates tips, which of the following stat...
- Question 43: The due date for filing Form 941 is the:...
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- Question 45: Using the wage bracket method, calculate the employee's net ...
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- Question 48: Which of the following simulations would NOT be performed wh...
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- Question 50: Which form is used by third-party administrators to report s...
- Question 51: Using the following information from a payroll journal, calc...
- Question 52: When resolving late deposits, the payroll staff should take ...
- Question 53: Where should a firm's business transactions FIRST be recorde...
- Question 54: IRS regulations require employers to take all of the followi...
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- Question 56: The reconciliation of an employee federal income tax withhol...
- Question 57: Payroll system security violations may result in:...
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- Question 59: As of December 31, 2024, what is the MAXIMUM amount, if any,...
- Question 60: To reconcile a general ledger tax liability account balance,...
- Question 61: The journal is commonly referred to as the record of:...
- Question 62: An independent contractor status is indicated if the worker:...
- Question 63: All of the following statements about the implementation of ...
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- Question 65: What is the purpose of the ACA legislation?...
- Question 66: Which of the following deductions from pay is considered a v...
- Question 67: Payroll liability tax accounts should be reconciled at LEAST...
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- Question 69: To stop payment on an employee's check, the employer must wo...
- Question 70: When an employee fails to cash a payroll check and the emplo...
- Question 71: Which test is used to determine if an employer-employee rela...
- Question 72: A state's minimum wage is $0.60 higher than the federal mini...
- Question 73: All of the following activities are examples of an internal ...
- Question 74: Which of the following wage attachments has the highest prio...
