Overwithholding

Overwithholding: A generic term referring to an excess amount of tax being withheld for an employee or retirement plan participant throughout the year. Overwithholding can apply to both income and Social Security taxes. Any amount of overwithholding is sent back as a refund to the taxpayer after he or she has filed a return.
Overwithholding is also known as excess withholding. This commonly occurs when there is an overexpectation of your yearly income, which could be caused by large bonuses or above average lump sum payments. Overwithholding of Social Security benefits is refunded back to the taxpayer in the form of a refundable tax credit.

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overwithholding — deducting and paying too much tax that may be refunded to the taxpayer or applied against the next period s obligation. Bloomberg Financial Dictionary … Financial and business terms
overwithhold — /oh veuhr with hohld , widh /, v., overwithheld, overwithholding. v.t. 1. to withhold too much. 2. to deduct (an amount in withholding tax) in excess of the tax to be paid. v.i. 3. to withhold oneself excessively. 4. to deduct too much… … Universalium
недовычет — Ситуация, когда у налогоплательщиков вычитают из заработной платы слишком мало федеральных, штатных или местных подоходных налогов. По этому случаю налогоплательщики могут задолжать большие суммы подоходного налога, когда они будут заполнять… … Финансово-инвестиционный толковый словарь

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