Examlex
Instructions: Identify the following. Be as specific as possible, and include names, dates, and relevant facts as appropriate. Be sure to explain the significance of the person or term.
Southern Strategy
Federal Income Tax
A tax levied by the government on the annual income of individuals, corporations, trusts, and other legal entities.
Net Pay
The amount of an employee's earnings after all deductions, including taxes and retirement contributions, have been subtracted.
FICA Tax
A United States federal payroll tax that funds Social Security and Medicare, deducted from employees’ paychecks and matched by employers.
Federal Income Tax
A tax levied by the United States Internal Revenue Service (IRS) on the annual earnings of individuals, corporations, trusts, and other legal entities.
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