Examlex
Distinguish between first-tier and second-tier suppliers in a supply chain and provide an example.
Employer
An individual or organization that hires and pays people for their labor or services.
Form W-2
The tax form that an employer must send to an employee and the IRS at the end of the year. It reports an employee’s annual wages and the amount of taxes withheld from his or her paycheck.
Taxable Income
The portion of an individual's or corporation's income used to determine how much tax is owed to the government in a given tax year.
Taxes Withheld
The portion of an employee's wages that is not included in their paycheck because it is sent directly to the government as tax payments.
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