Examlex
Which of the following best describes the purpose of a primary key?
Withholding Per Pay Period
The amount of income tax an employer deducts from each paycheck, sent to the IRS on the employee's behalf, impacting the amount of potential refund or tax due.
Payroll Taxes Deposits
Payments made by employers to the IRS or other tax authorities for taxes withheld from employees' wages, including Social Security and Medicare taxes.
Lookback Period
The lookback period is a defined timeframe in the past during which certain events or transactions are reviewed for tax or regulatory compliance purposes.
TIN
Taxpayer Identification Number; a unique identifier assigned by the Internal Revenue Service or Social Security Administration to track taxpayers and accounts.
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