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When a company computes an employee's withholdings for income taxes, they use the information provided by the employee on the employee's W4, which indicates the employee's filing status (married, single, etc.) and the number of dependents. An employee is not allowed to determine a flat amount to be deducted each payroll period. Assume that you are working in the payroll department of a large corporation and you notice that a new employee has filed out a W4 claiming 10 dependents. You went to high school with this particular person and happen to know that s/he is single and has no children. What should you do?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M958787

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