In 2009, the Social Security Payroll Tax Did Not Apply

question 217

Multiple Choice

In 2009, the Social Security payroll tax did not apply to annual income above

• A) $15,000.
• B) $32,000.
• C) $106,800.
• D) $200,000.

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Definitions:

Traveler's Checks

Preprinted, fixed-amount checks designed to allow the person signing them to make payments when traveling.

Countersignature

A second signature on a document that confirms or approves the initial signature, providing an additional level of security or authentication.

Designated Date

A specific date that has been appointed or set aside for a particular purpose or event.

Collecting Bank

A collecting bank is a bank that handles the collection of payments on behalf of a depositor, including processing checks and drafts.