Examlex
If I hit my thumb with a hammer,I will immediately scream in pain.This is an example of _____________.
Federal Income Tax Withholding
The amount of federal income tax withheld from an employee's paycheck, based on their earnings and tax filing status.
Net Pay
The amount of money remaining from an employee's gross pay after deductions like taxes, insurance premiums, and retirement contributions have been subtracted.
FICA Tax
A U.S. federal payroll (or employment) tax imposed on both employees and employers to fund Social Security and Medicare—federal programs that provide benefits for retirees, disabled people, and children of deceased workers.
Federal Income Tax
A tax levied by the government on the annual income of individuals, corporations, trusts, and other legal entities.
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