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Year-End Reporting & W-2 Processing Flashcards

7 cards from real CPP practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

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  1. What is the deadline for filing Copy A of Form W-2 with the Social Security Administration?

    Answer: January 31

    Since 2017, the SSA filing deadline for both paper and electronic W-2 submissions is January 31, matching the employee furnishing deadline.

  2. What is reported in Box 10 of Form W-2?

    Answer: Dependent care benefits

    Box 10 reports the total dependent care benefits provided under a dependent care assistance program (DCAP), including employer contributions and employee salary reductions through a FSA.

  3. What Box 12 code reports employer contributions to an employee's Health Savings Account (HSA)?

    Answer: Code W

    Code W in Box 12 reports employer contributions to an employee's HSA, including both direct employer contributions and employee payroll-deducted amounts.

  4. Which year-end form reconciles federal income tax withheld from non-payroll items such as pensions and gambling winnings?

    Answer: Form 945

    Form 945 (Annual Return of Withheld Federal Income Tax) is used to report and reconcile federal income tax withheld from non-payroll payments including pensions, annuities, and gambling winnings.

  5. What Box 12 code reports elective deferrals to a Section 403(b) tax-sheltered annuity plan?

    Answer: Code E

    Code E in Box 12 reports elective deferrals to a Section 403(b) tax-sheltered annuity plan, commonly used by employees of educational institutions and nonprofits.

  6. When corrected W-2c forms are filed with the SSA, what accompanying form must also be submitted?

    Answer: Form W-3c

    Form W-3c (Transmittal of Corrected Wage and Tax Statements) must accompany all W-2c forms submitted to the SSA to correct previously filed information.

  7. What is the backup withholding rate applied when a payee fails to furnish a correct Taxpayer Identification Number (TIN)?

    Answer: 24%

    The backup withholding rate is 24% of the reportable payment when the payee fails to provide a correct TIN on Form W-9 or the IRS notifies the payer of an incorrect TIN.