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In an ERIC search, the following research label described a potential source: ED52881. Given this label, what is one conclusion that can be drawn about the source?
Excess Social Security Tax
The amount by which Social Security taxes withheld exceed the maximum limit set for the year.
Lookback Period
The lookback period is a specified duration during which past financial activities are reviewed for legal, tax, or regulatory purposes.
Withholding Allowance
An exemption that reduces how much income tax an employer deducts from an employee's paycheck.
Federal Withholding Tax
Taxes automatically deducted from an employee's paycheck by the employer and paid to the federal government.
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