The End of the Deferral Period for Certain Payroll Tax Remittances Boosts Withholding For the Second Consecutive December
Posted on December 27, 2022 We can observe that daily remittances to the U.S. Treasury made by employers for the federal income and payroll taxes that they withhold from their employees’ paychecks (referred to as withholding) are being significantly affected in December by previously-enacted law changes. For the second consecutive December, federal withholding amounts have […]
Growth in Quarterly Estimated Payments by Corporations Slowed in December
Posted on December 22, 2022 The mid-December quarterly estimated payment of federal income taxes by corporations was due to the IRS by December 15, and by this point in the month the IRS has normally received about 90 percent of the month’s total corporate tax payments. So, we can estimate that such tax payments for […]