CPP Year-End Reporting & W-2 Processing

Question 1

What is the deadline for employers to furnish W-2 forms to employees?

Accepted Answer

January 31

Answer

February 28

Answer

March 15

Answer

December 31

Question 2

Which box on Form W-2 reports Social Security wages?

Accepted Answer

Box 3

Answer

Box 1

Answer

Box 5

Answer

Box 7

Question 3

What is the penalty per form for W-2 forms filed more than 30 days late but before August 1?

Accepted Answer

$120 per form

Answer

$60 per form

Answer

$310 per form

Answer

$570 per form

Question 4

What Box 12 code is used on Form W-2 to report elective deferrals to a 401(k) plan?

Accepted Answer

Code D

Answer

Code A

Answer

Code E

Answer

Code G

Question 5

Which form is filed with the Social Security Administration to transmit Copy A of W-2 forms?

Accepted Answer

Form W-3

Answer

Form 1096

Answer

Form 945

Answer

Form 944

Question 6

What information is reported in Box 8 of Form W-2?

Accepted Answer

Allocated tips

Answer

Dependent care benefits

Answer

Nonqualified deferred compensation

Answer

Employer HSA contributions

Question 7

Form 944 may be used instead of Form 941 by employers who expect their annual employment tax liability to be no more than:

Accepted Answer

$1,000

Answer

$2,500

Answer

$5,000

Answer

$10,000