Examlex
A T-account is a summary device with credits posted on the left side of the vertical line.
Federal Income Tax
A tax levied by the U.S. government on the annual earnings of individuals, corporations, trusts, and other legal entities.
FICA Taxes
Federal Insurance Contributions Act taxes, which fund Social Security and Medicare, required deductions from employees' paychecks and matched by employers.
FICA Taxes
Federal taxes in the United States that fund Social Security and Medicare, required to be withheld from an employee's paycheck.
Tax Expense
The amount of taxation a company is required to pay to various tax authorities, based on its earnings.
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