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In 2023, Justine earns $22,000 as an employee of CHS Systems (CHS). Before filing its current year tax return, CHS decides to establish a SEP

In 2023, Justine earns $22,000 as an employee of CHS Systems (CHS). Before filing its current year tax return, CHS decides to establish a SEP plan for its employees and contribute the maximum amount permissible for the benefit of each employee. In this case, Justine may receive a contribution of $7,500 to her SEP account. O True O False

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