Remittance To Government
Most systems require that taxes withheld must be remitted within specified time limits, which time limits may vary with the total amount so held in trust. Remittance by electronic funds transfer is often required.
Penalties for failure to remit withheld taxes to the government can be severe. Some such penalties are increased for longer periods of nonremittance.
Read more about this topic: Withholding Tax
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“Money is power, and in that government which pays all the public officers of the states will all political power be substantially concentrated.”
—Andrew Jackson (1767–1845)
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