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What is the standard that specifies the format of data as well as the rules to be followed during transmission?
Federal Income Taxes
Taxes levied by the federal government on the annual earnings of individuals, corporations, trusts, and other legal entities.
Payroll Taxes
Taxes imposed on employers or employees, usually calculated as a percentage of the salaries that employers pay their staff.
Net Pay
The amount paid the employee, calculated as gross pay less payroll deductions.
FICA Taxes
Taxes imposed on both employers and employees to fund Social Security and Medicare.
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