Write True or False to the Statements Below

question 166

True/False

Write True or False to the statements below.If the statement is false, rewrite the underlined word or phrase to make the statement true.
-Less than 3 percent of the people in the U.S. live in poverty.

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Definitions:

Ceiling Amount

A maximum limit placed on the value, income, or other financial metric that can be used for calculations, such as determining eligibility for tax deductions or credits.

Multi-Part W-3

A comprehensive summary form submitted by employers to the IRS, detailing total earnings, tax withholdings, and other payroll information for employees.

Social Security Portion

The part of income that goes towards Social Security contributions, typically seen on payroll statements.

Annual Wage Base

The maximum amount of earnings on which employees must pay Social Security taxes in a given year.