Certified Payroll Professional Practice Exam

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Prepare for the Certified Payroll Professional Exam. Master concepts with flashcards and multiple-choice questions, each offering hints and explanations. Get exam ready now!

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What is the responsibility of the IRS concerning the collection of Railroad Retirement Tax Act taxes?

Provide retirement benefits
Impose the taxes
Collect the taxes
Manage individual retirement accounts

The correct answer is: Collect the taxes

The correct answer is C: Collect the taxes. The responsibility of the IRS concerning the collection of Railroad Retirement Tax Act (RRTA) taxes is to oversee the collection of these specific taxes. The IRS ensures that employers properly withhold and remit RRTA taxes on behalf of their employees who are subject to this tax. This responsibility does not involve providing retirement benefits, imposing the taxes themselves, or managing individual retirement accounts, making options A, B, and D incorrect.