Excess Employer Withholding When one or more employers withhold more than the aggregate maximum amount of Social Security and/or railroad retirement contributions that should have been withheld from a single taxpayer during a taxation year. Excess employer withholding is When one or more employers withhold more than the aggregate maximum amount of Social Security and/or … [Read more...]
Withholding Allowance
Withholding Allowance An allowance an individual claims on a W-4 Form. Your withholding allowances will determine how much money is taken out of your paycheck each time you get paid, so know how to use them to your benefit.A withholding allowance is mainly used to assist an employer in calculating the amount of income tax to withhold from an employee's paycheck. The more … [Read more...]