Federal Tax Withholding Growth Moved up Some in October, Possibly Resulting from Disaster-Related Payment Delays
Posted on November 2, 2023 We estimate that federal tax withholding–the amount of income and payroll taxes withheld from workers’ paychecks and remitted daily to the U.S. Treasury–grew by 6.7 percent in October (compared to the amounts from October 2022). That is a step-up from the growth of between 5.1 percent and 5.6 percent recorded […]