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
Tax filers are owed a refund when they overwithhold
federal income taxes each year, but they can also qualify for a refund even if they do not owe income taxes through a "refundable" tax credit such as the earned income tax credit.
the records and ensure the government does not overwithhold
. This would
An indirect method of requiring returns is to overwithhold
and require taxpayers to obtain refunds through the return filing process.