Examlex
Which of the following statements is true?
Calendar Year
A period of one year that begins on January 1 and ends on December 31, used in most of the world as the primary timeframe for organizing a schedule of events.
W-4
A tax form used in the United States by employees to indicate their tax situation to their employer, determining the amount of taxes to be withheld from their paycheck.
Wage Base Limit
Wage base limit refers to the maximum income on which an individual is required to pay Social Security taxes in a given year.
FICA-Medicare
A component of FICA taxes, withheld from employee wages and matched by employers, to fund the Medicare health insurance program.
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