the employer records the amount of federal income tax withheld as a liability.
The federal income tax is levied against the yearly profits of people, companies, and other legal entities. Federal income taxes are due on all compensation, including salaries, monetary gifts from employers, business profits, tips, winnings from gaming, bonuses, and unemployment benefits.
National programs including national defense, veterans and foreign affairs, social programs, physical, human, and communal development, law enforcement, and interest on the national debt are funded in part by federal income taxes. You may learn more about withholding by using these resources.
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