Answer the question and be specific and to the point. Any fl…
Answer the question and be specific and to the point. Any flexibility in the question is to give the student the option to choose which approach or report to describe or to use in answering each part of the question. Quantity (count of words) is not the main objective or focus of this exam. You are auditing the compliance of payroll department with state and federal regulations; you are assigned to focus on payroll checks to employees, payroll withholdings, payments of withholdings to different agencies/parties, and quarterly payroll reporting. Based on class payroll presentations on Canvas Discussions Module (PPT Slides and class recordings): VIII-a List four to five MAIN payroll deductions/withholdings discussed in payroll presentations or you are familiar with. Define very briefly each deduction and what is the deduction for (one to three sentences for each deduction’s definition and explanation)? VIII-b A US congressional candidate contracted with one individual volunteer in another city (100 miles away and in same congressional district) to place the candidate’s yard signs across the city main intersections for a lump-sum amount of $3500. The candidate shipped 300 yard-signs and a hammer to the individual who performed the service as agreed on and got the check in the mail. Elections were over in November and candidate won. In February of next year, the individual filed a complaint with labor Department that he should not have a received a 1099-NEC Form but a W-2 from the candidate. Will the individual prevail in his complaint? Answer briefly (1) describing what is the main issue involved in this complaint, (2) what is the main reason(s) or criterion (criteria) to support your answer (prevail or lose), and (3) list three to five criteria the Labor Department uses in deciding similar cases? VIII-c Identify/enumerate payroll quarterly reports (required by external agencies) and identify one most commonly and internally generated and internally used payroll report (based on payroll presentations or on your own experience, if needed). You can list more than one internally generated payroll report and choose the one which you can argue that it is used most often internally by the organization to generate quarterly payroll reports. Of course, it is required to include a general statement about the purpose, use, and about the information included on both the report for external entities and payroll reports internally generated and used. VIII-d Name and describe the contents and use of one main ‘Input’ form/document used in setting up the Employee Table and affects the payroll process/calculation (source of data captured electronically or on paper)? Also, name and describe the contents of one ‘Output’ form generated by the payroll cycle ( paper or electronic format; not the company’s quarterly or annual filing reports)? VIII-e When a new employee is hired, there is a required New Hire Reporting: (1) what is the Main purpose behind this New Hire Report, (2) Which governmental agency or level (State, Federal or National) is concerned with this New Hire Report and why? VIII-f An employee was terminated on Wednesday at 10am. The supervisor handed the termination letter and wished the employee best of luck in finding a new job. Employee left office, went back to his workstation, angry and confrontational started complaining to other employees, then he went to the parking lot, got in his truck, and rammed his truck through the shop killing and hurting many shop workers who were assembling goods. Based on the termination (firing) payroll topic researched in the payroll cycle, were the supervisor’s termination timing, procedures, and protocols well planned? What would you have done differently if you followed human resources recommended and proper termination process? VIII-g How does Labor Regulation defines Overtime (OT)? Is there a difference between the OT legal definition/requirement and the common practice by many private sector businesses, especially the manufacturing industry with high skilled machinists, in calculating and paying of overtime hours? VIII-h Enumerate three different types of pay (other than regular and OT pay) and explain briefly what are and why these types of pay exist? Does the Labor Regulation provide guidance on how to pay for these types of pay? Do not focus on actual rates or amounts paid, just why and how they are paid and added on paycheck (how they are recorded on the books may give some information to briefly answer the question)?
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