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Federal Income Tax
A charge imposed by the federal government of the United States on the yearly income of individuals, corporations, trusts, and various legal entities.
Withholding Allowance
Withholding Allowance refers to an exemption that reduces the amount of income tax an employer deducts from an employee's paycheck, based on their personal and dependent status.
Federal Income Tax
An annual financial obligation required by the federal government from individuals, corporations, trusts, and other lawful entities.
Gross Earnings
The total amount of income received before any deductions or taxes are subtracted.
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