Payroll tax
Payroll tax
Payroll tax is the amount of funds withheld by an employer from an employee's paycheck, to cover federal, state, and local income taxes. Amounts withheld for specific types of taxes are usually itemized on the payroll stub. After the close of the tax year, the employee must fill out a tax return to determine if the payroll taxes withheld were enough to cover taxes owed.
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