overwithhold


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
v.tr.
1. To deduct (an amount in withholding tax) beyond the tax owed.
2. To subject to overwithholding.
v.intr.
To deduct too much withholding tax.
American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

overwithhold

(ˌəʊvəwɪðˈhəʊld)
vb
to deduct more (withholding tax) than is owed
Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014
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.
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An indirect method of requiring returns is to overwithhold and require taxpayers to obtain refunds through the return filing process.
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