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    rickyzsn's Avatar
    rickyzsn Posts: 1, Reputation: 1
    New Member
     
    #1

    May 1, 2007, 09:28 AM
    Taxes withheld from our paychecks
    What is the purpose of collecting taxes from our weekly paycheck?
    tombb25's Avatar
    tombb25 Posts: 37, Reputation: 7
    Junior Member
     
    #2

    May 1, 2007, 09:30 AM
    So I can't buy a better fishing boat.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
     
    #3

    May 1, 2007, 10:39 PM
    The U.S. tax system (federal income taxes, Social Security and Medicare taxes, state income taxes) are set up as a pay-as-you-go system to keep the federal and states funded throughout the year.

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