10/08/2026
Thursday Tax Trivia! π§ π΅
Quick guess before you scroll: what year did employers start withholding federal income tax from every paycheck?
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Answer: 1943. The Current Tax Payment Act, signed by President Franklin Roosevelt in June 1943, created the paycheck withholding system we still use today, with withholding starting that July.
The bonus fact: to get everyone current, the law forgave 75% of one year's tax bill so people wouldn't owe two years at once.
How close was your guess? Drop it below!