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In a legal context, withholding refers to the practice of taking money from someone's income, such as wages or dividends, and federal income tax deducting it by a certain amount or percentage determined by the law.
Employment taxes must be withheld from employees by law-abiding employers. Federal income tax withholding, Social Security and Medicare taxes are all included in employment taxes. The amount of federal tax withholding to be withheld every pay period is calculated by dividing the tax amount by the number of pay periods in a year. Even if an employer, business leader, director, or other person with business responsibility did not realize they were required to collect and pay employment taxes, the IRS may nevertheless impose a civil penalty if they believe they should have known.
To learn more about federal income tax click the link below:
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