W

"Wealth Tax"

Another name for the Alternative Minimum Tax.

Withholding

Money held back from your paycheck and used to pay taxes. This amount is applied to your annual tax liability.

Withholding Allowance

Allowances will no longer be used on the W-4 starting in 2020. You enter the IRS tax withholding amount per W-4 and per employer and on the associated state tax withholding form.