Overwithhold - definition of overwithhold by The Free Dictionary
Also found in: Financial
o·ver·with·hold (ō′vər-wĭth-hōld′, -wĭth-)
v. o·ver·with·held (-hĕld′), o·ver·with·hold·ing, o·ver·with·holds
1. To deduct (an amount in withholding tax) beyond the tax owed.
2. To subject to overwithholding.
To deduct too much withholding tax.
to deduct more (withholding tax) than is owed
References in periodicals archive
An indirect method of requiring returns is to overwithhold
and require taxpayers to obtain refunds through the return filing process.
Clients who overwithhold
are paying a significant opportunity cost for this action.
Schepanski and Shearer (1995) suggested that prospect theory can explain the phenomenon that individuals who underwithhold income taxes are more likely to engage in noncompliance than those who overwithhold