The ________ instituted signiﬁcant changes to payroll taxes, especially adjustments for inﬂation and employee income tax computation.
A) Social Security Act
B) Walsh-Healey Public Contracts Act
C) Tax Cuts and Jobs Act
D) Affordable Care Act

Question

Quizplus · Accepted Answer

The Tax Cuts and Jobs Act instituted significant changes to payroll taxes in 2018, including adjustments for inflation and changes to employee income tax computation. The Social Security Act, passed in 1935, established the Social Security system, but did not significantly change payroll taxes in recent years. The Walsh-Healey Public Contracts Act, passed in 1936, established minimum wage and overtime pay standards for workers on federal contracts. The Affordable Care Act, passed in 2010, did not significantly change payroll taxes, but did introduce individual and employer mandates for health insurance coverage.

The ________ Instituted Signiﬁcant Changes to Payroll Taxes, Especially Adjustments