APA FPC-Remote Exam Dumps

Comprehensive and Detailed Explanation:

According to the IRS penalty schedule for late-filed information returns, the penalty per form depends on how late it is filed:

Option A ($60.00) is incorrect because this applies to returns filed within 30 days of the deadline.

Option B ($120.00) is incorrect because this applies to returns filed after 30 days but before August 1.

Option D ($630.00) is incorrect because this applies to cases of intentional non-compliance.

IRS Instructions for Forms W-2 & 1099 -- Late Filing Penalties

Payroll.org -- Compliance with Information Return Filing Deadlines

Comprehensive and Detailed Explanation:

According to Form I-9, Employment Eligibility Verification, an unexpired U.S. passport is a List A document that establishes both an employee's identity and work authorization.

A Social Security card (Option A) is a List C document, which only proves employment authorization but not identity.

A Voter's Registration Card (Option C) is not an acceptable I-9 document for identity or work authorization.

A Driver's License (Option D) is a List B document, which only proves identity but not employment eligibility.

Form 941 is due on the last day of the month following the end of the quarter.

Example:

Q1 (Jan--Mar) due: April 30

Q2 (Apr--Jun) due: July 31

IRS Form 941 Instructions

Comprehensive and Detailed Explanation:

Internal controls are processes used to ensure accuracy, security, and compliance in payroll operations. Effective internal controls include:

Option B (Segregating job duties) Prevents fraud by ensuring no one person has full control over payroll.

Option C (Rotating job duties) Reduces fraud risk and enhances cross-training.

Option D (Restricting system access) Protects sensitive payroll data.

Option A (Storing backup files on-site) is incorrect because internal control best practices recommend off-site or cloud backups to protect against data loss from disasters.

Payroll.org -- Payroll Internal Control Procedures

IRS -- Best Practices for Payroll Security

Comprehensive and Detailed Explanation:

Payroll professionals must stay updated on tax laws, wage regulations, and compliance requirements. Key resources include:

A (PAYO -- Payroll.org) Provides training, updates, and compliance resources.

B (DOL -- Department of Labor) Oversees wage & hour laws (FLSA).

D (IRS -- Internal Revenue Service) Issues payroll tax regulations.

Option C (FTC -- Federal Trade Commission) is incorrect because the FTC does not regulate payroll laws. The FTC primarily monitors consumer protection laws.

Payroll.org -- Payroll Compliance Updates

IRS & DOL -- Payroll Tax and Wage Regulations