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Learn about the different types and levels of taxes imposed by the federal, state, and local governments in the U.S. Find out how taxes affect income, spending, and inequality in the country.
Learn about the different types of withholding tax imposed at various levels in the US, such as wage withholding, withholding on payments to foreign persons, and backup withholding. Find out how withholding works, how to calculate it, and how to report it.
Payroll tax is a tax imposed on employers or employees based on their salaries. Learn about the different types, rates, and deductions of payroll tax in various countries, such as Australia, Austria, Bermuda, Brazil, Canada, China, Croatia, and more.
Form W-2 is a document that reports wages paid to employees and the taxes withheld from them in the US. Employers must send it to employees and the Social Security Administration by January 31, and employees use it to file their tax returns.
FICA stands for Federal Insurance Contributions Act, a tax that funds federal programs for retirees, people with disabilities, and children of deceased workers. FICA applies to earned income only and is paid by both employees and employers, with different rates and limits depending on the type of income and the year.
Tax withholding is a system where the payer of income deducts a portion of the income and pays it to the government on behalf of the recipient. Learn about different types of tax withholding, such as income tax, social insurance tax and international withholding, and see examples from various countries.
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