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-Iowa Test of Basic Skills
Biweekly Wages
Compensation paid to employees every two weeks, typically resulting in 26 pay periods per year.
Backup Withholding
A tax method where the payer deducts taxes from an income payment before it is received by the payee, ensuring taxes are collected on certain payments.
Percentage Method
A way of calculating withholding tax on an employee's wages based on predefined percentage rates.
Withholding Allowances
Claims made by employees on Form W-4 to reduce the amount of federal income tax withheld from their paychecks, based on their expected tax deductions and credits.
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