MATCHING: -A Law That Allows Any Kind of Real or Personal

question 25

Multiple Choice

MATCHING:
-A law that allows any kind of real or personal property to be transferred to a custodianship as a gift to a minor

• A)estate tax
• B)income tax
• C)gift tax
• D)1997 Taxpayer Relief Act
• E)Uniform Transfers to Minors Act
• F)Form 1040
• G)Form 4868
• H)Form 709
• I)Form 706
• J)Form 4768

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Definitions:

Fair Labor Standards Act

A United States law that creates the right to a minimum wage, and "time-and-a-half" overtime pay when people work over forty hours a week, and prohibits the employment of minors in "oppressive child labor."

Overtime Pay

Additional compensation awarded to employees who work beyond their scheduled hours, as mandated by employment laws.

Exempt Employees

Workers who are exempt from the federal Fair Labor Standards Act (FLSA) minimum wage and overtime requirements, typically because they perform specific types of duties or earn above a certain salary threshold.

COBRA

A federal law that allows for the temporary continuation of health insurance coverage at group rates after voluntary or involuntary job loss.