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This is a United States tax-related article. Please refer to rules set forth by the Internal Revenue Service for correct and up-to-date information.
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According to the Internal Revenue Service, in the US, backup withholding is a specified percentage (currently 28%) withheld by the payers to be paid to the IRS on most kinds of transactions reported on variants of Form 1099. Backup withholding may be required for several reasons, including but not limited to:
- an improper TIN/ITIN/ATIN on the W-9
- an IRS backup withholding order
- certain types of payment are always subject
[edit] State backup withholding
Some states may also require backup withholding if it is already required by the IRS.
- California: 7%
[edit] External links
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