Which of the Items Is Not Correct Regarding Withholding

question 5

Multiple Choice

Which of the items is not correct regarding withholding?

• A) Employees that also have self-employment income can have additional amounts of federal tax withheld to avoid estimated tax payments.
• B) Employees cannot claim an allowance for a child unless they are entitled to claim the child as a dependent.
• C) Employees can claim exempt status and avoid withholding.
• D) Married employees can choose to have income tax withholding on wages withheld at the higher single rates.

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Definitions:

Business Ethics

The study of appropriate business policies and practices regarding potentially controversial subjects including corporate governance, insider trading, bribery, discrimination, and social responsibility.

Stock Value

The monetary amount that a share of a specific stock is considered to be worth in the marketplace.

Dodd-Frank Wall Street Reform

A comprehensive set of financial regulations passed in 2010 in response to the 2008 financial crisis, aimed at reducing risk in the financial system.

Financial Services Industry

A sector of the economy made up of firms and institutions that provide financial products and services to commercial and retail customers.