The employer acts as a tax collection agent for the federal government?
2007-10-25 17:23:13 · 3 answers · asked by luckyplaya23 2 in Business & Finance ➔ Other - Business & Finance
false:
although the majority of employers do deduct income tax from your pay they are doing it to help you pay your yearly taxes by installments and therefore you don't have to pay a huge amount come tax time. If you don't want them to take it off then at the end of the year you must file your return and pay any taxes owing. many people in the construction industry etc don't have tax deducted from their pay. You should have signed a form when you were hired giving your employer permission to deduct tax, unemployment, pension etc.. if you didn't sign anything then they shouldn't be deducting it.
2007-10-26 13:52:22 · answer #1 · answered by ? 6 · 0⤊ 0⤋
OK. I gave you the first one. It's time to start doing your own homework. Open the book and read the material.
2007-10-26 00:28:52 · answer #2 · answered by Uncle Pennybags 7 · 0⤊ 1⤋
It is true.
Employers have payables for federal witholding tax, state witholding tax, FICA, and medicare.
2007-10-26 01:31:38 · answer #3 · answered by fivestring46 4 · 0⤊ 1⤋