Match each of the following terms with the appropriate definitions.
-A number indicated on an employee's Form W-4 that is used to reduce the amount of federal income tax withheld from an employee's pay.
A)Long-term liability
B)Warranty
C)FUTA taxes
D)FICA taxes
E)Contingent liability
F)Net pay
G)Withholding allowance
H)Estimated liability
I)Merit rating
J)Wage bracket withholding table

Question

Quizplus · Accepted Answer

A withholding allowance, indicated on an employee's Form W-4, directly influences the amount of federal income tax withheld from their paycheck. The more allowances claimed, the less tax is withheld.

Match Each of the Following Terms with the Appropriate Definitions