The Senate Equivalent of the House Ways and Means Committee

question 63

Multiple Choice

The Senate equivalent of the House Ways and Means Committee is the Senate

• A)Joint Committee on Taxation.
• B)Ways and Means Committee.
• C)Finance Committee.
• D)Joint Conference Committee.

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Definitions:

Federal Unemployment

Federal Unemployment refers to unemployment tax paid at the federal level by employers to fund state workforce agencies and unemployment insurance for workers who have lost their jobs.

Form 941 Taxes

Another term used to describe FIT, OASDI, and Medicare. This name comes from the form used to report these taxes.

Electronically

A method of processing or transmitting information using electronic devices and systems.

Banking Day

A banking day is any day that a bank is open to the public for business. Generally, a banking business transacted after this time is usually considered to be the next day’s business. Saturdays, Sundays, and federal holidays are usually not considered banking days.