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Form 941 Taxes
Another term used to describe FIT, OASDI, and Medicare. This name comes from the form used to report these taxes.
Electronically
A method of processing or transmitting information using electronic devices and systems.
Banking Day
A banking day is any day that a bank is open to the public for business. Generally, a banking business transacted after this time is usually considered to be the next day’s business. Saturdays, Sundays, and federal holidays are usually not considered banking days.
SUTA Limit
The maximum amount of earnings on which an employer is required to pay State Unemployment Tax Act taxes.
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