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What is the main difference between economic regulation and social regulation?
Payroll Tax Withholding
The process by which employers deduct taxes from employees' paychecks to cover income taxes, Social Security, and Medicare obligations.
Monthly Schedule Depositors
Taxpayers who are required to deposit certain types of taxes on a monthly basis.
Semiweekly Schedule Depositors
Employers who are required to deposit employment taxes semiweekly based on the schedule determined by the IRS.
FICA Taxes
Taxes imposed by the Federal Insurance Contributions Act on both employees and employers to fund Social Security and Medicare.
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