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Finanse publiczne · 29/04/2003

IRS Releases Final Regulations on Backup Withholding

The IRS has released final regulations regarding backup withholding, clarifying the process for determining incorrect taxpayer identification numbers and the requirements for payors to withhold taxes when receiving multiple incorrect notices. The new rules also outline when information return filers must request a payee's correct TIN after receiving a penalty notice.

Source: Federal Register — Department of the TreasuryOpen original release →