a person filing their taxes

Withholding Tax: Everything You Need to Know

Withholding tax refers to the income tax your employer pays to the Internal Revenue Service¬†(IRS) after withholding it from your income. If your employer withholds too much during the year, you will be eligible for a tax refund.   On the other hand, if your employer withholds too little, then you might owe IRS the …

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