What is the definition of federal withholding tax?

Answer Federal withholding tax is the specific amount of an employee's pay that the employer sends to the federal tax authority. This amount serves as a partial payment for the tax liability the employee ... Read More »

Top Q&A For: What is the definition of federal withholding tax

What is federal income tax withholding?

Federal income tax withholding is the automatic deduction of money from workers' paychecks to cover the tax on their wages. Employers withhold the money and send it to the federal government.Income... Read More »

What Is the Federal Withholding Minimum?

As of January 10, 2010, the minimum federal withholding for earnings is 10 percent. This is based on single and married individuals if earnings are less than $200 for single individuals and $471 fo... Read More »

What is a federal tax withholding amount for an IRA withdrawal?

Unless otherwise elected or it is a Roth IRA, the federal withholding for IRA withdrawals will be 10 percent. Early withdrawals have different rules (penalties). However, it is possible to elect no... Read More »

What percent of federal withholding is taken out of checks?

The percent of federal withholding taken from paychecks in 2010 varies by annual income and marriage status. For a single person, the percentage is as low as 10 percent and as high as 35 percent, w... Read More »