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Withholding Allowance
A claim made by an employee on a W-4 form to reduce the amount of tax withheld from their paycheck.
Federal Income Tax
An annual financial obligation collected by the IRS from individuals, corporations, trusts, and other legal organizations.
Gross Earnings
The total income earned by an individual or a business before any deductions or taxes are taken out.
Withholding Allowance
A claim made by an employee on a form W-4 to determine the amount of income tax withheld from their paycheck.
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