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Provide Answers to the Following Questions

question 61

Essay

Provide answers to the following questions:
a. What form does an employer use to report wages to an employee?
b. When must the employer give this form to the employee?
c. What form does an employer use to report wages to the Social Security Administration?
d. When must the employer file the form with the Social Security Administration?


Definitions:

Repaid

The process of repaying funds that were once loaned by a creditor.

Borrowed

The act of receiving funds from another party with the promise to return the principal amount along with interest or other charges.

Payment

The act of transferring money or goods in exchange for a product or service, or to fulfill a legal obligation.

Bank

A financial institution licensed to receive deposits and make loans.

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