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WordNet-Online
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Definitions from the WebWithholding TaxDefinition: Withholding tax is a type of tax deducted at the source of income, usually from wages or salaries, and paid directly to the government by the employer or payer. This tax is withheld from the employee's earnings and serves as a prepayment of income tax that the employee will owe at the end of the tax year. ExamplesNoun - Sense 1: The withholding tax helps to ensure that individuals meet their tax obligations without the burden of having to pay a large sum at one time. Example sentence: I was pleased to see that my employer withheld the appropriate amount of withholding tax from my paycheck. Verb - Sense 1: Employers are responsible for withholding taxes from their employees' income and remitting the amounts to the government. Example sentence: The company diligently withheld taxes from its employees' wages and sent the payments to the tax authority. Related Products: If you want to learn more about withholding tax and its implications, you might find the following books on Amazon helpful: | ||||
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