Home / CPA Course / REG

Federal laws and regulations of business

REG Chapter 8 · Area II · Blueprint II.D

Mina's pottery business has grown to 60 people, and with growth come federal rules that apply to every employer: payroll taxes, the line between employees and contractors, the Affordable Care Act's employer mandate, and, now that she sells to hotels abroad, the Foreign Corrupt Practices Act. The Blueprint asks you to explain these laws from the employer's and the employee's side, recall the worker classification factors and the types of bankruptcy, and spot compliance problems in a scenario. Figures are for 2026: a Social Security wage base of $184,500, ACA employer penalties of $3,340 and $5,010, and an affordability percentage of 9.96%.

In this chapter

1. Employment taxes: the employer's side
2. Employment taxes: employees and the self-employed
3. Employee or independent contractor?
4. The Affordable Care Act: employers and individuals
5. Types of bankruptcy and discharge of debts
6. The Foreign Corrupt Practices Act

This chapter has 6 lessons, 50 practice MCQs with explanations and 20 simulations, plus flashcards and a recall sheet.

What this chapter covers

• Employment taxes
• worker classification
• Affordable Care Act mandates and premium tax credits
• types of bankruptcy and discharge
• Foreign Corrupt Practices Act

Chapter 7: Debtor-creditor relationships · Chapter 9: Business structure