Financial Glossary

A tax form issued by employers that reports an employee's annual wages and taxes withheld. Employees use this form when filing their tax returns.

A form completed by employees to tell employers how much tax to withhold from their paychecks. Proper completion helps avoid owing taxes or receiving a large refund.

The amount of money your employer deducts from your paycheck to cover your estimated tax obligations. Proper withholding helps ensure you don't owe a large amount at tax time.