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overwithholding

/ˌoʊvərwɪθˈhoʊldɪŋ/
noun
  1. The act or practice of keeping back or deducting more than necessary, especially from wages or taxes.
    • Overwithholding can lead to a large tax refund but less money during the year.
    • The accountant advised against overwithholding because it reduces monthly cash flow.
    • Many employees prefer to avoid overwithholding by adjusting their W-4 forms.
verb
  1. Present participle of overwithhold: currently keeping back or deducting more than necessary.
    • The company is overwithholding taxes from all its employees this quarter.
    • The system keeps overwithholding because of an error in the software.
    • She realized she was overwithholding from her freelance income.