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CPA REG > Other Federal Laws and Regulations > Flashcards

Other Federal Laws and Regulations Flashcards

1
Q

Is same sex sexual harassment protected under Title VII of the Civil Rights Act of 1964?

A

Yes, it is protected against by Title VII.

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2
Q

List four examples of “reasonable accommodations.”

A

Making facilities accessible;
Providing adaptive hardware;
Hiring readers or interpreters;
Providing part-time or modified work schedules.

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3
Q

What is the main effect of the Age Discrimination in Employment Act?

A

Supplements Title VII by prohibiting mandatory retirement.

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4
Q

List the entities affected by the Americans with Disabilities Act

A

Employers with 15 or more employees;
All state and local governments;
Most private businesses that provide accommodations, goods, or services to the public;
Public services and transportation

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5
Q

What does the acronym ADEA stand for?

A

Age Discrimination in Employment Act.

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6
Q

List the two types of discriminations that can occur as described under Title VII of the Civil Rights Act of 1964

A

Intentional (Disparate Treatment), Discriminatory Impact (Disparate Impact).

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7
Q

List the entities that enforce Title VII of the Civil Rights Act of 1964

A

Equal Employment Opportunity Commission (EEOC) and/or Civil Actions by individual plaintiffs.

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8
Q

What Act forbids discrimination in employment based on race, color, religion, sex, and national origin?

A

Title VII of the Civil Rights Act of 1964.

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9
Q

List the types of sexual harassments as outlined in Title VII of the Civil Rights Act of 1964

A

Quid Pro Quo;

Hostile Environment.

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10
Q

List the entities affected by the Age Discrimination in Employment Act.

A

Businesses employing at least 20 people;
State and Local Governments;
Unions (with at least 25 members);
Employment Agencies.

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11
Q

What does the acronym ADA stand for?

A

Americans with Disabilities Act.

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12
Q

List the entities for which Title VII of the Civil Rights Act of 1964 applies.

A

Employers, Employment Agencies, Labor Unions, Federal, State, and Local Government Employees

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13
Q

What does the acronym BFOQ stand for?

A

Bona Fide Occupational Qualification.

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14
Q

Under the Federal Social Security Act, what is the requirement to be “fully insured?”

A

One must accrue a minimum of 40 quarters (10 years) of contributions.

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15
Q

What benefits are available to “currently insured” workers under the Federal Social Security Act?

A

Limited survivor benefits (usually limited to dependent minors or those caring for dependent minors);
Benefits for disabled workers and dependents;
Lump-sum death benefits.

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16
Q

List the features of self-employed tax.

A

Base rate = that of FICA rate for employer and employee combined;
Base rate reduced by any “wages” earned during the year, because of the FICA paid on the wages;
Self-employed can deduct 50% of FICA from taxes.

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17
Q

Describe the concept of willfulness as it applies to a taxpayer paying tax that is owed.

A

Awareness of the obligation and a conscious and voluntary payment of someone else with funds that should have been used to pay the tax owed.

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18
Q

List the features of the Federal Insurance Contributions Act.

A

Rates generally the same for employer and employee;
Rates change often;
Social Security Taxes are paid only up to base amount; there is no limit on the Medicare component.

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19
Q

What is the employer’s responsibility for the Federal Insurance Contributions Act tax?

A

Pay own share;
Withhold employee’s equal share and remit it in a timely fashion;
Pay employee’s share if fail to withhold (“double tax”);
Furnish employee with written statement of wages paid and contributions withheld;
Supply Taxpayer Identification Numbers when filing returns.

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20
Q

Describe the coverage provided by disability benefits.

A

Covers worker who suffers a severe physical or mental impairment preventing that person from working for a year or more or expected to result in the victim’s death.

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21
Q

What is the purpose of the Federal Social Security Act?

A

Provide partial replacement of earnings when a worker retires.

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22
Q

How is the Federal Insurance Contributions Act tax applied to an individual’s compensation?

A

Tax that applies only to that part of compensation that is deemed “wages.”

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23
Q

What does §6672 of title 26 of the Internal Revenue Code cover?

A

Failure to collect and pay over tax, or attempt to evade or defeat tax.

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24
Q

What does the acronym FICA stand for?

A

Federal Insurance Contributions Act.

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25
Q

Describe the coverage provided by Medicare

A

A portion of costs of hospitalization and medical benefits of insured workers and spouses 65 and older; can cover younger disabled workers in some cases.

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26
Q

What items are considered in self-employed income?

A

Net business profits, director’s fees

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27
Q

Who pays Federal Unemployment Tax Act (FUTA) taxes?

A

Employer (only) pays these taxes.

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28
Q

What purpose does the Federal Unemployment Tax Act serve?

A

Provide unemployment compensation benefits to workers who lose jobs and can’t find new ones.

29
Q

List the eligibility requirements for unemployment benefits.

A

Involuntarily terminated;
Available and looking for work;
Not receiving disqualifying income

30
Q

What does the acronym FUTA stand for?

A

Federal Unemployment Tax Act.

31
Q

List the workers excluded from minimum wage and overtime requirements.

A

Executives;

Professional employees.

32
Q

What is the basic minimum age for employment in any nonhazardous work?

A

The age of sixteen.

33
Q

What does the acronym FLSA stand for?

A

Federal Fair Labor Standards Act.

34
Q

Who is responsible for enforcing the Federal Fair Labor Standards Act?

A

Department of Labor’s Wage and Hour Division and private lawsuits.

35
Q

List the major sections of the Federal Fair Labor Standards Act.

A

Minimum Wage;
Overtime Standard;
Child Labor Restrictions;
Equal Pay Provision.

36
Q

What type of workers is not covered by the minimum wage rules?

A

Independent contractors.

37
Q

What is the hour limit to which overtime must be applied under the Federal Fair Labor Standards Act?

A

More than 40 hours in a week.

38
Q

What is the purpose of pension and retirement plan liability?

A

Pension and retirement plan liability protects plans by establishing standards of responsibility and conduct upon plan fiduciaries

39
Q

What does the acronym PBGC stand for?

A

Pension Benefit Guaranty Corporation.

40
Q

Define “defined-contribution plans”.

A

Plans that specify annual fixed-share contributions to be made by an employer into a retirement account.

41
Q

Define “defined-benefit plans”

A

Plans that ensure eligible employees and their beneficiaries a specified monthly income for life.

42
Q

What are the duties of a fiduciary?

A

Act with reasonable care and discharge duties solely in interests of plan’s participants.

43
Q

List the two types of plans to which the Employee Retirement Income Security Act of 1974 (ERISA) apply.

A

Employee pension benefit plans;

Employee welfare benefit plans.

44
Q

What is the purpose of the Employee Retirement Income Security Act of 1974 (ERISA)?

A

Protect employee rights in existing pension plans;

Offer tax incentives to employers and employees to fund employee benefit plans.

45
Q

What is the purpose of the Occupational Safety and Health Act of 1970?

A

To promote safety standards and job safety.

46
Q

What two qualifying events give rise to health coverage under the Consolidated Omnibus Budget Reconciliation Act (COBRA)?

A

Termination or Reduction of hours causing loss of health insurance.

47
Q

What entities are covered by the Family and Medical Leave Act (FMLA)?

A

Employers with over 50 employees in a 75 mile radius;

State and local government agencies.

48
Q

Define “quid pro quo”.

A

The concept of getting something of value in return for giving something of value. For a contract to be binding, it usually must involve the exchange of something of value.

49
Q

Distinguish between mandatory and elective coverage of workers’ compensation benefits.

A

Most states require all employers to carry workers’ compensation plans. In some states it is elective, however, those who elect not to carry benefits can be sued by injured employees.

50
Q

What does the acronym OSHA stand for?

A

Occupational Safety and Health Act of 1970

51
Q

What are the requirements for an employee to be eligible for the benefits outlined in the Family and Medical Leave Act (FMLA)?

A

Employee must have worked for employer:
At least 12 months;
AND at least 1250 hours in those months

52
Q

What does the acronym COBRA stand for?

A

Consolidated Budget Reconciliation Act.

53
Q

What is the purpose of the Workers’ Compensation Act?

A

To provide nearly-automatic compensation for employees who suffer work-related injuries or diseases.

54
Q

List the employers who are exempt from Occupational Safety and Health Act of 1970 regulations.

A

Federal government, State government, Certain industries subject to other safety regulations.

55
Q

To whom does the Consolidated Omnibus Budget Reconciliation Act (COBRA) apply?

A

Companies with 20 or more employees.

56
Q

What amount of leave is an eligible employee entitled to under the Family and Medical Leave Act of 1993?

A

12 weeks of unpaid leave without losing the job.

57
Q

List actions that are deemed union unfair labor practices.

A

Coercing employees;
Requiring employees not to do business with nonunion companies;
Refusing to bargain collectively in good faith;
Illegal strike or secondary boycott.

58
Q

Define “collective bargaining”.

A

Negotiations between management and a union.

59
Q

What Act is known as the Taft-Hartley Act, named after its sponsors, Senator Robert Taft and Representative Fred A. Hartley, Jr.?

A

The Labor-Management Relations Act of 1947

60
Q

What Act is known as the Wagner Act, named after its sponsor New York Senator Robert F. Wagner?

A

The National Labor Relations Act of 1935.

61
Q

List actions that are deemed unfair labor practices.

A 
Dominating or interfering with a union;
Interfering with union organizing efforts;
Discriminating against a union member;
Refusing to bargain collectively;
Unfair labor practices.
62
Q

What Act is known as the Landrum-Griffin Act?

A

The Labor-Management Reporting and Disclosure Act of 1959.

63
Q

List actions that are deemed employer unfair labor practices.

A 
Interfering with organizing activity;
Bribing workers;
Threatening workers;
Refusing to bargain collectively in good faith;
Dominating union;
Discriminating against union members
64
Q

What Act prohibits court injunctions against many union organizing activities, particularly peaceful strikes?

A

The Norris-LaGuardia Act.

65
Q

What percentage of employees must sign authorization cards to enable a union to seek certification?

A

30%.

66
Q

List the worker’s rights protected by the National Labor Relations Act.

A

Right to form a union;
Right to collectively bargain;
Right to act collectively (strike).

67
Q

Define “lock-out”.

A

Action taken by employers to bar workers from coming to work, sometimes in anticipation of a threatened strike.

68
Q

Define “agency shops”

A

Agreements allowing employees not to join the union but to pay fees to cover union services.

CPA REG (14 decks)

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