A tax deducted from a salary, wage, or other income. For example, a certain amount is withheld from most workers' paychecks as a federal income tax withholding.
Deduction of federal and state income taxes, Social Security taxes, and other items, such as union dues and health insurance premiums, from a workerâ€™s paycheck.
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. see also backup withholding, overwithholding, underwithholding.
Portion of an employees wages retained be the employer for the purpose of paying for various taxes, insurance plans, pension plans, union dues, and other deductions.
Your employer takes out a certain amount from your check for the government. You are credited for these taxes when you file your return. This money is used to pay for your federal income taxes, federal social security, and Medicare taxes, and state and local income taxes.
Taking amounts out of an employee's wages for taxes, vountary deductions, garnishments or levies, or other deductions (e.g., medical insurance premiums, union dues). These amounts are then paid over to the government agency or other organizations to whom they are due.
The process of deducting taxes from wages or distributions. The IRS requires financial institutions to use backup withholding for certain retirement plan withdrawals.
the act of deducting from an employee's salary
income tax withheld from employees' wages and paid directly to the government by the employer
Federal income tax that must be deducted from distributions unless the recipient elects otherwise under IRS rules.
Amounts withheld by Transamerica IDEX either at your request, or perhaps required to be done according to federal or other government laws. Any federal or state withholding that was withheld by Transamerica IDEX from dividend or capital gain distributions, or from any sales or exchanges of Transamerica IDEX fund shares is paid to the IRS or your state on your behalf. Any such withholding will be reported to you and the IRS on applicable tax forms Transamerica IDEX may send you. Withholding either increases your refund or reduces the amount you owe the government on your income tax returns.
Withholding is yet another term for "deductions from income." See "deductions from income" for more details.
Money, for example, that employers withhold from employees paychecks. This money is deposited for the government. (It will be credited against the employees' tax liability when they file their returns.) Employers withhold money for federal income taxes, Social Security taxes and state and local income taxes in some states and localities.... read full article
A tax deducted from a salary, wage, or other income on behalf of the government at the time of payment of wages to the person who pays it.
Subtracting amounts from an employee's wages for taxes, garnishments or levies, and other deductions (e.g., medical insurance premiums, union dues). These amounts are then paid over to the government agency or other party to whom they are owed.
The process of taking money out of a taxable distribution as a prepayment of income taxes due on the event.
Amounts automatically set aside by a fund's custodian and sent to the IRS. You must provide a certified Tax Identification Number when you open an account to avoid withholding on your MainStay Funds. (Also called "back-up withholding.") There are no glossary words under this letter.
The process of deducting an amount from a salary or wage payment representing the estimated federal or state income tax of the individual and that the employer must pay to the taxing authority.
Money taken out of an employeeâ€™s salary and remitted to the government.
An employer deducts a portion of employee wages, usually for income taxes. Employers base the withholding amounts on the Form W-4, Employee’s Withholding Allowance Certificate, that employees submit when commencing employment. A Treasury account at a bank is the repository for withholding amounts and is a credit toward future tax liability for the calendar year.
(1) Shares of a hot issue retained by an underwriter for its own purposes. A violation of NASD rules. See: Freeriding. (2) IRS requires financial institutions to report social security numbers, payments of interest, dividends, and sale proceeds, known as backup withholding.
The retention of a given amount of a salary or wages by an employer on behalf of the government for tax purposes. Withholding is the term used to describe a portion of your check amount that an employer is required to pay directly to federal, state, and city taxation authorities in anticipation of your annual income tax obligations. The check you receive, therefore, is for less than you earned during the pay period. The amounts withheld are credited toward your tax bill so that most taxpayers will have to pay relatively little additional money at annual tax filing time and many will qualify for a refund of money overwithheld.
A failure by a broker/dealer to make a bona fide distribution of a hot issue, thus encouraging demand at a premium price. This practice is a violation of the NASD Rules of Fair Practice. (See Freeriding)
The part of your earnings that your employer sends directly to the federal, state, or local government as partial payment of your expected tax for the year.
Used in the context of securities, the illegal practice of a public offering participant keeping some shares in a private account or with a family member, employee, or dealer to profit from the higher market price of a hot issue. Used in the context of taxes, the withholding by an employer of a certain amount of an employee's income in order to cover the employee's tax liability. Also used to refer to the withholding by corporations and financial institutions of a flat 10% of interest and dividend payments due to security holders.
Any tax that is taken directly out of an individual's wages or other income before he or she receives the funds.
write-off withholding tax
Money employers deduct from employees' wages or salaries to pay state and federal taxes and insurance.
Action by a broker-dealer whereby an allotment of securities in a public offering is retained for its own purposes. If the offering is a hot issue, this action may be a violation of the Rules of Fair Practice of the National Association of Securities Dealers (NASD). See: Freeriding; Hot Issue; Public Offering; Rules of Fair Practice
Federal Income Tax must be withheld from distributions (withdrawals) out of Traditional, and SIMPLE IRAs unless the individual chooses in writing (on the IRA Distribution Request Form) not to have tax withheld. Tax will be withheld at a rate of 10% of the gross distribution amount unless the individual specifies a higher rate or elects NO withholding. Once the withholding has been remitted, the withholding deduction cannot be reversed.