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Boom Master Services Agreement This Boom Master Services Agreement (the Agreement) is made between you, the Customer (Customer) and Boom, Inc. with its principal place of business at 1400 Liberty
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Withholding tax, or 'with its,' is a tax on income that is withheld from an employee's wages and paid directly to the government by the employer.
Employers are required to file and remit the withholding tax to the government.
Employers must accurately calculate the amount of withholding tax required based on the employee's wages and withhold that amount from the employee's paycheck. This amount must then be reported and remitted to the government.
The purpose of withholding tax is to ensure that the government receives tax revenue throughout the year, rather than waiting until the end of the year for individuals to pay their taxes.
Employers must report the amount of wages paid to employees, the amount of withholding tax withheld, and other relevant information such as employee names and social security numbers.
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