Growth in Federal Tax Withholding Rebounded in February Back to Within its Range from May to December 2023
Posted on March 5, 2024 Federal tax withholding–the amount of income and payroll taxes withheld from workers’ paychecks and remitted daily to the U.S. Treasury Department–rebounded in February after a one-month dip (see the chart below). Specifically, we estimate that withholding grew by 6.0 percent in February (compared to the amount from February 2023), in […]