Examples of Withheld Taxes in a sentence
Section 5050—Accounting for Withheld Taxes The amount withheld each pay period from the compensation of employees or members of the armed forces will be recorded on their individual earnings records.
An employer must provide all "opt out" information to the Administrator on an annual basis in such form as the Administrator prescribes or upon a withholding audit by the Administrator.(b) Due Date of Withheld Taxes to Administrator by Employer.
For information and rules concerning federal tax deposits, see Depositing Withheld Taxes in Pub.
The impact on the employee's paycheck will be as follows: (see example on following page) Salary Moving expense (ER paid) Taxable Income Taxes Withheld Taxes Owed Net Pay Employee pay (prior to reimbursement) $5,400 $5,400 $1,000 $4,400 Moving expense only $5,000 $5,000 $1,100 $-1,100 Employee pay + Moving expense (after reimbursement) $5,400 $5,000 $10,400 $1,000 $1,100 $3,300 Scenario 2: Employee uses a different moving service provider.
See Penalties, later.Deposit RequirementsFor information and rules concerning federal tax deposits, see Depositing Withheld Taxes in Pub.