Withholding Allowances

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August 31, 2024 4 min read Definitions

Withholding Allowances: Understanding Tax Withholding

Taxes Finance Withholding Allowances Form W-4 Tax Withholding Payroll Income Tax

Withholding allowances refer to the number of allowances claimed on Form W-4, determining the amount of tax withheld from an employee's paycheck. This article provides a comprehensive overview of withholding allowances, their importance, and their impact on tax withholding.