Meaning Back-up withholding
What does Back-up withholding mean? Below you find one meaning for the word Back-up withholding You can also add a definition of Back-up withholding yourself
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Back-up withholdingBack-up withholding is triggered when a bank, brokerage firm, or other institution pays interest, dividends, or other income that must be reported on IRS Form 1099 to a payee who does not provide a tax identification number (TIN), typically a Social Security number, or provides an incorrect number.While income that’s reported on Form 1099 is not no [..]
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