How To Withhold Taxes As An Independent Contractor Failure to deduct or withhold and remit to the Commissioner is an offence which attracts penalty and interest The penalty for late payment is 5 of the tax due
Keep retain detain withhold reserve mean to hold in one s possession or under one s control keep may suggest a holding securely in one s possession custody or control If you withhold something that someone wants you do not let them have it Police withheld the boy s name yesterday
How To Withhold Taxes As An Independent Contractor
How To Withhold Taxes As An Independent Contractor
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Definition of withhold verb in Oxford Advanced Learner s Dictionary Meaning pronunciation picture example sentences grammar usage notes synonyms and more Withhold definition to hold back restrain or check See examples of WITHHOLD used in a sentence
1 To refrain from giving or granting withhold information withhold judgment See Synonyms at keep 2 To keep in check restrain I was unable to withhold my laughter 3 To deduct V t to hold back restrain or check Business to refrain from giving or granting to withhold payment Business to collect taxes at the source of income Banking to deduct withholding
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Withhold refers to the act of holding back or keeping something in possession or to oneself rather than giving it or making it known It can also refer to the deduction of money such as taxes If you keep something back and don t share it you withhold it You can withhold things such as permission emotion or information You might get into trouble if you withhold information from
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How To Withhold Taxes As An Independent Contractor - Definition of withhold verb in Oxford Advanced Learner s Dictionary Meaning pronunciation picture example sentences grammar usage notes synonyms and more