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If an employee earns more that $122,700 (amount subject to change) in a calendar year,...

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Question

Accounting

If an employee earns more that $122,700 (amount subject to change) in a calendar year, the excess is not taxable for social security taxes.

Group of answer choices

True

False

The Wage and Tax Statement, Form W-2, is a summary of the payroll register that is sent to the IRS.

Group of answer choices

True

False

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