Terms Beginning With 'w'

Withholding

  • January 11, 2020
  • Team Kalkine

The part of an employee's wages that ceases to be a portion of his pay-check but is forwarded directly to either the national, state, or local tax group is referred to as withholding. It shuns the tax amount paid at year-end. In cases where the employers do not withhold sufficient tax, they might end up in arrears at year end. Ideally, withholding is also conducted in retirement accounts.

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