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6 Results for Tag: withholding

Underpayment Penalty

Underpayment Penalty What is 'Underpayment Penalty' A tax penalty enacted on an individual for not paying enough of his or her total estimated tax and withholding. If an individual has an

Backup Withholding

DefinitionAccording to the Internal Revenue Service, in the US, backup withholding is a specified percentage withheld by the payers to be paid to the IRS on most kinds of transactions report

Earnings Allowance

Earnings Allowance What is 'Earnings Allowance' Calculation on the net funds available in a checking account and the credit amount can be used to offset all or a portion of monthly service

W-9 Form

DefinitionForm W-9 is used in the United States income tax system by a third party who must file an information return with the Internal Revenue Service. It requests the name, address, and t

W-4 Form

W-4 Form What is a 'W-4 Form' An employee completes an IRS W-4 form, or an Employee's Withholding Allowance Certificate, to indicate his tax situation to the employer. The W-4 form tells t

W-8 Form

W-8 Form What is a 'W-8 Form' A W-8 form is an Internal Revenue Service (IRS) form that provides foreigners with an exemption from specified U.S. information return reporting and backup wi