All of the following statements correctly pertain to the advance payment of the earned income...
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Accounting
All of the following statements correctly pertain to the advance payment of the earned income credit (EIC) except
a. not all employees are eligible b. the maximum amount of the EIC is adjusted annually for inflation c. to receive the advance payments with their pay, employees must file W-5, d. if employees do not elect to get advance EIC payments, they lose the benefit of EIC on their personal income tax returns e. all of the above statements are correct
Employee contributions made on a pretax basis to a cafeteria plan are included in total payments on Form 940 and then deducted as exempt payments.
True
False
FICA Taxes Payable
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