What this notice is about This notice is sent to tell the taxpayer they’re no longer subject to backup withholding and we’ve notified the payers we previously instructed to start backup withholding to stop backup withholding. What you need to do Verify that payers withholding on interest or dividend income received the notice to stop backup withholding. If they didn’t, provide a copy of the notice to them by December 31. The payer will stop withholding within 30 days. Keep a copy for your records. You may want to Read about backup withholding. Review Publication 1335, Backup Withholding Questions and Answers PDF. View your payoff amount, payment history, or order transcripts using the Tax Account tool. Frequently asked questions What is backup withholding? Backup withholding is withholding on mostly interest and dividend income that the payer will withhold when we instruct them to do so. What is the backup withholding rate? The current rate is 24% and can increase or decrease with the tax laws. How long will the payer continue backup withholding? The payer should continue until we instruct them to stop or until the payee provides written certification from us that they’re no longer subject to backup withholding. Tips for next year File your tax return timely Report all interest and dividend income Pay all taxes due Reference tools Publication 1, Your Rights as a Taxpayer Publication 17, Your Federal Income Tax Full list of tax forms and instructions Bezwen èd? Ou ka otorize yon moun (an anglè) pou kontakte IRS la pou ou. Gade si w kalifye pou resevwa èd nan men yon Sant pou Kontribyab ki gen Revni Fèb (an anglè). Si w pa kapab jwenn sa w vle a anliy, rele nan nimewo IRS nan pati anlè avi oswa lèt ou a. Si w pa te resevwa yon lèt oswa yon avi, itilize asistans telefonik Si ou pa ka rezoud penalite a poukont ou, kontakte Sèvis Defans Kontribyab la, yon òganizasyon endepandan anndan IRS.
