Question 1

Is the annualization for employees who resign mid-year processed at year-end?

Accepted Answer

false

Answer

true

Question 2

When is the deadline for employers to issue BIR Form 2316 to employees for the year 2025?

Accepted Answer

January 31, 2026

Answer

February 28, 2026

Answer

March 2, 2026

Answer

February 28, 2025

Question 3

Under DOLE guidelines, final pay should generally be released

Accepted Answer

b. Within 30days from the date of separation or more favorable company policy if any

Answer

d. On the year end.

Answer

a. On the employee’s last working day

Answer

c. One year after resignation

Question 4

Which of the following is true regarding who qualifies for substituted filing?

A. Employees that has one employer in the Philippines for the calendar year

B. Employees that receive purely compensation income of any amount

Accepted Answer

A& B are both True

Answer

A is true, B is False

Answer

A& B are both false

Answer

B is true, A is False

Question 5

Which separation type usually entitles an employee to final pay?

Accepted Answer

All of the above

Answer

End of contract

Answer

Termination

Answer

Resignation

Question 6

What factor can delay the release of final pay?

Accepted Answer

All of the above

Answer

Pending accountabilities

Answer

Ongoing disputes

Answer

Incomplete clearance process

Question 7

Under Revenue Memorandum Circular (RMC) 29 -2024, what is the rule regarding the signatures on Form 2316?

Accepted Answer

Both the employer and the employee must sign the form for it to be valid for substituted filing

Answer

Digital signatures are allowed

Answer

Only the employer's signature is required for the BIR submission

Answer

The form only needs to be signed if there is a tax refund due.

Question 8

An employee has two employers simultaneously (concurrent employment) within the same calendar year. Can they qualify for substituted filing?

Accepted Answer

No, individuals with multiple concurrent employers must file their own annual ITR (Form 1700)

Answer

No, unless one of the employers is a government agency

Answer

Yes, provided the main employer consolidates both incomes

Answer

Yes, if the total income is below 250,000.

Question 9

What is the penalty for an employer who fails to issue Form 2316 to an employee on time?

Accepted Answer

A fine of 1,000 per form not issued, subject to a maximum cap per year

Answer

Automatic imprisonment of the HR Manager

Answer

The company's business permit is immediately revoked

Answer

There are no penalties if the tax was paid to the BIR anyway

Question 10

In the case of a "Successive Employer", an employee moved from a company A to Company B), what is Company's B's responsibility regarding Form 2316?

Accepted Answer

Company B must include the income from Company A in the "Previous Employer" section of the year end 2316

Answer

Company B must ask Company A to file the final return

Answer

Company B should not issue a 2316 at all

Answer

Company B only reports the income earned while at Company B.

Question 11

When is annualization usually done?

Accepted Answer

At year-end or upon employee separation

Answer

Only when requested by employee

Answer

Upon hiring only

Answer

Every payroll period

Question 12

What is an Alphalist?

Accepted Answer

A list of employees showing their income and taxes withheld from the taxable year.

Answer

A list of company assets

Answer

A report of employee attendance

Answer

A summary of company expenses

Question 13

Which BIR form is submitted together with the Alphalist for compensation income?

Accepted Answer

BIR Form 1604-C

Answer

BIR Form 2551Q

Answer

BIR Form 2307

Answer

BIR Form 1701

Question 14

When is the annual Alphalist usually submitted?

Accepted Answer

On or before January 31 of the following year

Answer

On or before February 28 of the following year

Answer

On or before April 15 of the following year.

Answer

On or before December 31 of the taxable year

Question 15

What system is used to prepare the Alphalist?

Accepted Answer

BIR Alphalist Data Entry (DAT) System

Answer

eBIRForms

Answer

Excel only

Answer

eFPS

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