Word: overpay
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Dates: during 1970-1979
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...year. If a married couple file a joint return, but one of the two is unemployed, they very likely will be paying out too much in withholding. Similarly, an earner who expects to have big itemized deductions for home-mortgage payments, medical bills, charity and the like will probably overpay. To ease the weekly or monthly burden for these people, the Internal Revenue Service has created a new exemption called the "special withholding allowance." People who believe that their employer is holding back too much can go to him and claim from one to seven such exemptions to bring their...