Federal Withholding Tax
Federal Withholding Tax Definition
Withholding or withholding tax.(1) Generally defined as an amount of an employee's income that an employer sends directly to the federal, state, or local tax authority as partial payment of that individual's tax liability for the year.
(2) Russell uses the term to refer to the amount that a shareholder designates to be sent by a mutual fund company directly to the federal government when he redeems from an IRA account.
Related to Federal Withholding Tax Definition:
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- Investment Book
- Hedge Fund Terms and Definitions
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