Examlex
Match each definition in the first column to the correct term in the second column.
-Samantha drank a lot of alcohol over many years and now suffers from this fatty degeneration of the liver.
Tax Liability
The total amount of tax owed to a tax authority by an individual or corporation after all deductions, credits, and exemptions.
Income Tax Withholdings
The portion of an employee's income that is withheld by the employer and paid directly to the government as a prepayment of income tax.
Income Tax Regulation
Legal guidelines and rules governing how income taxes are calculated, collected, and enforced by authorities.
Reg.§1.162-1
A reference to a section of the U.S. Tax Code outlining the deduction of ordinary and necessary business expenses.
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