withholding Definition

withholding

Definition

An amount of an employee's income that an employer sends directly to the federal, state, or local tax authority as partial payment of that individual's tax liability for the year. When a person starts a new job, he/she is required to fill out a W-4 form on which he/she can indicate his/her filing status and the number of allowances he/she is claiming.

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withholding is ...
... part of the Taxes subject.

Related Terms

backup withholding - More

overwithholding - More

underwithholding - More

free riding, benefit offset, withholding tax, Tax Equity and Fiscal Responsibility Act of 1982

withholding appears in the definitions of these other terms on BusinessDictionary.com

annual receipts, samurai bond, business tax, liabilities of directors, suppression of evidence, and

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