No Signs from Tax Collections Data of Weakening Corporate Profits: Corporate Income Tax Payments in December Remain Strong
Posted on December 19, 2021 Quarterly payments of income taxes by corporations on profits in the fourth quarter have remained strong in December. Such payments in December, as in September for the third quarter, are about 40 percent above pre-pandemic amounts for the same month (see chart below). The December amounts this year are based […]
Withholding Tax Payments Deferred by the CARES Act Are Coming Due: We Expect Big Payments at the End of December
Posted on December 10, 2021 Summary We expect that withheld amounts of income and payroll taxes remitted to the Treasury Department will jump in late December as a result of the payment of payroll tax amounts that were allowed by last year’s CARES Act to be deferred. The Act allowed payment of those amounts to […]