Question

A friend approaches you with his first paycheck. He is confused to see that money was taken away from his check by the federal government for several programs. Explain the concept of payroll taxes to him, including how it works and where the money goes.

Answer 1

Answer:

Though not all paychecks are alike, there are elements that all ... When you were first hired, you filled out a W-4 form and ... the less federal income tax the government will take out of your ...

Answer 2

Answer:

Though not all paychecks are alike, there are elements that all ... When you were first hired, you filled out a W-4 form and ... the less federal income tax the government will take out of your ...

Explanation:

no cap