Do You Know Why You are Experiencing Payroll Withholding and Quarterly Tax Payments?

Do You Know Why You are Experiencing Payroll Withholding and Quarterly Tax Payments?

I do and you should to. During World War II, Congress introduced payroll withholding and quarterly tax payments to help fund the war. As you know World War II has been over now for some seven decades but the withholding and quarterly estimates continue for our government learned how to get quicker access to the money. This allowed taxpayers to pay in regular periodic amounts rather than all of your income taxes being paid at the end of the year which is a lot harder to come up with all that money at once.

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