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  2. Backup withholding - Wikipedia

    en.wikipedia.org/wiki/Backup_Withholding

    Failure to certify exemption from backup withholding for under-reported interest and dividends. Prevention and resolution. If a payer issues a "B" notice, indicating an incorrect TIN, individuals can usually prevent or stop backup withholding by providing the correct name and TIN to the payer. Certification of the accuracy of the TIN is crucial.

  3. Can I Stop Money From Being Withheld From My Tax Returns? - AOL

    www.aol.com/stop-money-being-withheld-tax...

    Backup withholding is money deducted for federal income taxes on some payments by banks and other payers. Backup withholding amounting to 24% of a payment may be required if a taxpayer who ...

  4. Tax withholding in the United States - Wikipedia

    en.wikipedia.org/wiki/Tax_withholding_in_the...

    Withholding tax on payments to foreign persons, and; Backup withholding on dividends and interest. The amount of tax withheld is based on the amount of payment subject to tax. Withholding of tax on wages includes income tax, social security and medicare, and a few taxes in some states. Certain minimum amounts of wage income are not subject to ...

  5. Tax withholding - Wikipedia

    en.wikipedia.org/wiki/Tax_withholding

    Investors and independent contractors are exceptions to withholding taxes, although they remain subject to income tax obligations and are required to make quarterly estimated tax payments. Failure to keep up with these payments can trigger backup withholding, imposing a higher tax rate of 24%.

  6. Am I Exempt From Federal Withholding? Do I Still Get a Refund?

    www.aol.com/am-exempt-federal-withholding-still...

    Another tax credit is the American opportunity tax credit, which gives students a partial refund on qualifying education expenses that reduce the student’s tax liability to an amount less than $0.

  7. Form W-9 - Wikipedia

    en.wikipedia.org/wiki/Form_W-9

    The payer must collect withholding taxes on certain reportable payments for the IRS. However, if the payee certifies on the W-9 they are not subject to backup withholding they generally receive the full payment due them from the payer. [2] This is similar to the withholding exemption certifications found on Form W-4 for employees.

  8. IRS tax forms - Wikipedia

    en.wikipedia.org/wiki/IRS_tax_forms

    The second purpose is to help the payee avoid backup withholding. The payer must collect withholding taxes on certain reportable payments for the IRS. However, if the payee certifies on the W-9 they are not subject to backup withholding they generally receive the full payment due them from the payer. [45]

  9. Am I Exempt From Federal Withholding? Do I Still Get a Refund?

    www.aol.com/news/am-exempt-federal-withholding...

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