MATCHING

question 24

Essay

MATCHING:

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Definitions:

Taxpayer Identification Number

A unique number assigned to taxpayers for identification purposes by the IRS or Social Security Administration, such as a Social Security Number (SSN) for individuals.

Monthly Schedule Depositor

A designation for businesses that are required to deposit employment taxes on a monthly basis due to their tax liability amount.

Semiweekly Schedule Depositor

This term refers to businesses that are required to deposit employment taxes on a semiweekly basis, typically when they have accrued a certain amount of tax liability.

Tax Liability

The total amount of tax owed to federal, state, or local tax authorities for a given period.