The Current Tax Payment Act changed employer remittance of taxes by:
A) Instituting the mandatory transfer of payroll tax liabilities.
B) Legislating the amounts of tax withheld from each employee.
C) Requiring employers to remit taxes during the year based on estimated liabilities.
D) Calling for employers to remit only the current portions of taxes due.

Question

Quizplus · Accepted Answer

The Current Tax Payment Act requires employers to remit taxes during the year based on estimated liabilities, rather than waiting until the end of the year to pay the full amount. This helps ensure that the government receives tax revenue in a timely manner and reduces the risk of employers falling behind on their tax obligations.

The Current Tax Payment Act Changed Employer Remittance of Taxes