Home > Terms > English, UK (UE) > Withholding

Withholding

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 who they are owed.

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  • Part of Speech: noun
  • Synonym(s):
  • Blossary:
  • Industry/Domain: Accounting
  • Category: Payroll
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