Is withholding tax a direct tax?

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Do you withhold federal taxes for minors?

Answer . All taxes should be withheld on earned wages. If a minor has less than the standard deduction in UNEARNED income then they will not pay any Federal Tax... the sta

What is Classic Withholding Tax?

Classic Withholding Tax applies to the practice in some countriesfor people paying invoices to hold back a certain portion of theirpayment for withholding tax purposes. The Un

What is withholding tax?

income tax withheld from each paycheck and sent to the state or federal gov't Employer deductions from employees' earnings to pay employees' taxes.

What is backup withholding tax?

When a person, such as an employer, makes payments to another person, they must withhold and then pay a specified percentage of this payment to the Internal Revenue Service (I

How do you compute withholding tax?

There are many ways to do so...questions on why your withholding is what it is should be addressed to whoever is making the calculation, which is done pursuant to the info you

Should withholding tax be eliminated?

No...all it is is the method of collecting isn't a tax. Andof course, if you don't have withholding, like a self employed, you must make estimated payments every quar

Do employers have to withhold taxes?

In most cases I think they do.. ans . required by the W-4 filing and other rules...with substantial penalties for non-compliance.. And of course if you don't work

What is the difference between withholding taxes and not withholding taxes?

Withholding taxes are taxes that are subtracted from a payment by a third party before you receive the payment. Examples of this are: your employer takes taxes out of your p

Where do withholding taxes get taken from?

Federal withholding taxes are taken from the tables in Publication 15. An updated version called Publication 15-T was issued to account for the Making Work Pay Credit: http:

How do you treat withholding tax in the books?

Like any other accrued liability/account payable, own account is nice, not entirely nessasary. It is charged as part of payroll expense (which it is).

Who can withhold your taxes if you owe money?

This answer will depend on what type of money is owed and to who. If you are in the FMS offset refund tax program for any legal government debts it is possible for the FMS to

What would the withholding tax be for 536.30?

Withholding tax comes in various forms and types: The 2 most common are for payroll, where tax is withheld and sent to th appropriate jurisdictions - Federal, State, City an
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What is a withholding tax used for?

Withheld taxes are used for several things. City taxes and state taxes are withheld from one's paycheck. Federal taxes are also withheld from your check. That amount depends o

What is the federal tax withholding rate?

The withholding tax rate is based on the W-4 form you complete at the beginning of each tax year. This tax that is withheld from your paycheck during the year is merely an est