Examlex
A vernacular region is sometimes based on a specific economic, political, or historical characteristic.
FICA Withholding
Taxes deducted from employees’ paychecks for Social Security and Medicare, based on the Federal Insurance Contributions Act.
Federal Income Tax
The tax levied by the IRS on the annual earnings of individuals, corporations, trusts, and other legal entities.
FUTA Taxes
Federal Unemployment Tax Act (FUTA) taxes are federal employer taxes that contribute to state workforce agencies to fund unemployment benefits.
Tax Liability
The total amount of tax owed by an individual, corporation, or other entity to a taxing authority.
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