Withholding Growth in June Continued at a Relatively Brisk Pace for the Second Consecutive Month
Posted on July 3, 2023 We estimate that federal tax withholding–the amount of income and payroll taxes withheld from employees’ paychecks and remitted daily to the U.S. Treasury–grew by 5.3 percent in June (compared to the amounts from June of a year ago). That is about the same as the 5.6 percent growth in May, […]