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What is backup witholding?

Updated: 4/28/2022
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11y ago

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Payors of dividends and interest do not ordinarily withhold income taxes from those payments. However, persons who do not report that income on their tax returns are subject to "backup withholding" of taxes from those payments.

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Q: What is backup witholding?
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Related questions

What is witholding?

Payors of dividends and interest do not ordinarily withhold income taxes from those payments. However, persons who do not report that income on their tax returns are subject to "backup withholding" of taxes from those payments.


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Which is not one of the stages of scientific investigation?

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How do you calculate Total payments for a tax extension?

Take the amounts of any wages reported on W2 add an other income from 1099;s and any other income you are going to report. Calculate the taxes due minus that already withdeld on W-2 or backup witholding on other payments. the result is what you should send with the extension. The extension is an extension of the time to file the paperwork.


Which backup users choose folders and files to include in a backup?

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employees called off a strike and go to court to save the job and funds.


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