which of the following statements is true of a flat file system

The portion of the credit used against payroll taxes is allowed in the first calendar quarter beginning after the date that the qualified small business filed its income tax return. The payroll tax credit election must be made on or before the due date of the originally filed income tax return (including extensions). The Inflation Reduction Act of 2022 (the IRA) increases the election amount to $500,000 for tax years beginning after December 31, 2022. For tax years beginning before January 1, 2023, a qualified small business may elect to claim up to $250,000 of its credit for increasing research activities as a payroll tax credit. Qualified small business payroll tax credit for increasing research activities. Social security and Medicare taxes apply to election workers who are paid $2,200 or more in cash or an equivalent form of compensation in 2023. There is no wage base limit for Medicare tax.Social security and Medicare taxes apply to the wages of household workers you pay $2,600 or more in cash wages in 2023. The social security wage base limit is $160,200.The Medicare tax rate is 1.45% each for the employee and employer, unchanged from 2022. Qualified sick leave wages and qualified family leave wages paid in 2023 for leave taken after March 31, 2020, and before April 1, 2021, aren't subject to the employer share of social security tax therefore, the tax rate on these wages is 6.2%. The rate of social security tax on taxable wages, including qualified sick leave wages and qualified family leave wages paid in 2023 for leave taken after March 31, 2021, and before October 1, 2021, is 6.2% each for the employer and employee or 12.4% for both. Social security and Medicare tax for 2023.

Which of the following statements is true of a flat file system