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Facts to help taxpayers understand backup withholding

Author: External Author | | Categories: Tax Services

Blog by Vilensky & Company, LLC

Backup withholding is a federal tax on income that otherwise typically doesn't require tax withholding, such as 1099 and W2-G income. Taxpayers who receive this type of income may have backup withholding deducted from their payments.

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Original Article Source Credits:   IRS , https://www.irs.gov/

Article Written By:  NA

Original Article Posted on:  June 15, 2021

Link to Original Article:  https://www.irs.gov/newsroom/facts-to-help-taxpayers-understand-backup-withholding