MLchartDataset catalogue

Trust fund taxes

Term · Law · MLC-T-LAW-005002

Specific federal taxes that an employer is required to withhold from employees' wages, such as income tax, Social Security, and Medicare taxes. These withheld amounts are considered to be held in trust by the employer for the U.S. Treasury. Employers have a fiduciary duty to remit these funds to the government on behalf of their employees.

Table 1. Record
IdentifierMLC-T-LAW-005002
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-005002",
  "term": "Trust fund taxes",
  "field": "Law",
  "definition": "Specific federal taxes that an employer is required to withhold from employees' wages, such as income tax, Social Security, and Medicare taxes. These withheld amounts are considered to be held in trust by the employer for the U.S. Treasury. Employers have a fiduciary duty to remit these funds to the government on behalf of their employees.",
  "url": "https://mlchart.com/terminology/law/trust-fund-taxes/"
}

Record 5,115 of 5,445 in Law terminology (MLC-0107). Request the full dataset.