Be aware of the rules for withholding employee wages

February 1, 2003

Failure to account for payroll taxes will result in various penaltiesOne of the proposals the Republican-led 108th Congress is studying tostimulate the economy is a month-long "holiday" on payroll taxes.This holiday-or even another proposal for a payroll tax moratorium for 1year on an employee's first $10,000 of income-may or may not help increaseproductivity or improve the moribund U.S. economy. The proposals have, however,focused attention on the complex payroll withholding system that many urologistsmust deal with.