Tax Withholding Growth Slows Further in December, But Year-End Bonuses and Law Changes Make the Measurement Very Uncertain

Posted on January 3, 2023 We estimate that growth in federal tax withholding–amounts of federal income and payroll taxes withheld from workers’ paychecks and remitted by employers to the U.S. Treasury–fell further in December, registering 1.9 percent growth (compared to amounts from December of a year-ago). That represents a continuation of a gradual diminishing of […]