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. https://government.report/Resources/Whitepapers/10afbda4-7569-4403-bfea-7c24df9ba8ea_FEDERAL-TAX.pdf
whitepaper
FEDERAL TAX WITHHOLDING TREASURY AND IRS SHOULD DOCUMENT THE ROLES AND RESPONSIBILITIES FOR UPDATING ANNUAL WITHHOLDING TABLES
Federal income tax is a “pay-as-you-go” tax, meaning that employers are required to withhold taxes from employee paychecks during the year, rather than employees paying taxes only at the end of the year. Withholding helps the federal government collect taxes year-round, and prevents some individual taxpayers from owing large amounts when they file their tax returns. Each year, employers withhold over $1 trillion in income tax from employees’ pay, including wages, bonuses, and commissions. N/A DOWNLOAD