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Backup Witholding

What is Backup Witholding?

Backup withholding is a type of tax withholding on specific types of income for federal tax purposes. Backup withholding will not apply to you if:

  • You are exempt from backup withholding, or
  • You have not been notified by the Internal Revenue Service that you are subject to backup withholding as a result of a failure to report all interest or dividends, or
  • The IRS has notified you that you are no longer subject to backup withholding

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