New Method Lets Employers Withhold Income Tax Monthly
Starting July 1, a new system requires employers to withhold a portion of wages each month for Income and Victory Tax. The year will balance with refunds or additional payments. exemptions reduce withholding. Examples show a married worker with two children paying 225.60 yearly and losing about 4.40 weekly after July 1, with prior 1942 tax credits applied to 1943.
MENTIONED IN THIS ARTICLE
United States Treasury
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One
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