Employer Payroll Taxes

question 93

Multiple Choice

Employer payroll taxes:

• A)Are added expenses beyond that for the wages and salaries earned by employees.
• B)Represent the federal taxes withheld from employees.
• C)Represent the social security taxes withheld from employees.
• D)Are paid by the employee.
• E)Are payable for up to a maximum $118,500 of employee earnings.

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Definitions:

Holder In Due Course

A term relating to negotiable instruments, denoting a party that has received an instrument in good faith, for value, and without notice of any defects or claims against it.

Intermediary Banks

Financial institutions that serve as a middleman between the payer and the payee in transactions, particularly in international wire transfers.

Payment Orders

Instructions to transfer money from one bank account to another, often used in international trade and electronic funds transfers.

Fund Transfer

The movement of money from one account to another, either within the same financial institution or across different ones.