Facts to help taxpayers understand backup withholding
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.
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