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APA CPP-Remote Exam - Topic 10 Question 73 Discussion

From which of the following taxes are statutory workers' compensation payments exempt?
D) FIT, FICA, and FUTA taxes
A) FIT only
B) FICA only
C) FUTA only

APA CPP-Remote Exam - Topic 10 Question 73 Discussion

Actual exam question for APA's CPP-Remote exam
Question #: 73
Topic #: 10
[All CPP-Remote Questions]

From which of the following taxes are statutory workers' compensation payments exempt?

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Suggested Answer: D

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Huey
7 months ago
Nah, I think it's just FUTA, not all three.
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Leandro
7 months ago
I thought it was only FICA, this is surprising!
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Abel
7 months ago
Totally agree, it's definitely D.
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Matthew
7 months ago
Wait, are you sure it's not just FIT?
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Thomasena
8 months ago
It's D, all three taxes!
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Gearldine
8 months ago
I vaguely recall that workers' comp is generally exempt from all payroll taxes, so D might be the right choice.
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Delisa
8 months ago
I’m a bit lost on this one. I thought only FIT was exempt, but now I’m questioning if it’s more than that.
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Bettyann
8 months ago
I remember practicing a question similar to this, and I think the answer was D, all three taxes.
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Elina
9 months ago
I think statutory workers' comp payments are exempt from FIT, but I'm not entirely sure about FICA and FUTA.
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Abel
9 months ago
The wording of this question is a bit tricky. I'll need to carefully read through the options to make sure I don't miss any details.
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Latonia
9 months ago
Okay, I think I've got this. Workers' comp payments are exempt from federal income tax, Social Security tax, and federal unemployment tax. I'm confident I can answer this correctly.
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Adolph
9 months ago
Hmm, I'm a little unsure about the differences between FIT, FICA, and FUTA. I'll need to review my notes to refresh my memory on those.
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Lynelle
9 months ago
This seems like a straightforward tax question, but I want to make sure I understand the different types of taxes before answering.
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Lashaun
10 months ago
I'm pretty sure it's D. FIT, FICA, and FUTA taxes. I mean, who doesn't know that workers' comp is exempt from the trifecta of taxes?
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Marylou
10 months ago
No, I remember studying that it's exempt from all three taxes to provide financial relief to injured workers.
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Kiera
10 months ago
But isn't workers' compensation only exempt from FICA taxes?
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Myra
11 months ago
I agree with Marylou, because workers' compensation payments are exempt from all three taxes.
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Marylou
11 months ago
I think the answer is D) FIT, FICA, and FUTA taxes.
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