joseph castellano

All taxpayers should check their withholding – also known as doing a Paycheck Checkup – as soon as possible. They should do a checkup even if they did one last year.

By checking their withholding, taxpayers can make sure enough is being taken out of their paychecks or other income to cover the tax owed. Here are some things taxpayers should know about withholding and why checking it is important:

  • Taxpayers should check their withholding as early in the year as possible. If someone still has not done a Paycheck Checkup, there’s still time to get their withholding on track. They should do a checkup ASAP.
  • Taxpayers should also check their withholding when life changes occur. These changes include things like:
    • Marriage or divorce
    • Birth or adoption of a child
    • Purchase of a home
    • Retirement
    • Chapter 11 bankruptcy
    • New job or loss of job
  • Some taxable income is not subject to withholding. People with this income who also have income from a job may want to adjust the amount of tax their employer withholds from their paycheck. This includes income from things like:
    • Interest
    • Dividends
    • Capital gains
    • Self-employment and gig economy income
    • IRA distributions, including certain Roth IRAs
  • Some life changes might affect a taxpayer’s itemized deductions or tax credits. The taxpayer should check their withholding if they experience changes to their:
    • Medical expenses
    • Taxes
    • Interest expense
    • Gifts to charity
    • Dependent care expenses
    • Education credit
    • Child tax credit
    • Earned income tax credit

The best way for taxpayers to check their withholding is to use the Withholding Calculator on

The IRS is committed to ensuring taxpayers pay no more than the correct amount of tax owed. Taxpayers have the right to pay only the amount of tax legally due, including interest and penalties, and to have the IRS apply all tax payments properly. This is one of 10 basic rights known collectively as the Taxpayer Bill of Rights.

Here are some important things taxpayers should know about their right to pay no more than the correct tax owed. They can:

  • File for a refund if they believe they overpaid their taxes.
  • Contact the IRS if they believe there is an error on a notice or bill.
  • File an amended tax return if an error is discovered after the original return was filed.
  • Request that any amount owed be removed if it exceeds the correct amount due.
  • Request that the IRS remove interest from the account if the agency caused unreasonable errors or delays.
  • Submit an offer in compromise using Form 656-L. Taxpayers use this form to ask the IRS to accept less than the full amount of tax debt. Taxpayers do this if they believe all or part of the debt is not owed.

More information:
What the Taxpayer Bill of Rights Means for You
Topic 653, IRS Notices and Bills, Penalties and Interest Charges
Topic 308, Amended Returns
Taxpayer Advocate Service
Forms and Publications About Your Appeal Rights
Payment Plans, Installment Agreements

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Small business owners may qualify for a home office deduction that will help them save money on their taxes, and benefit their bottom line. Taxpayers can take this deduction if they use a portion of their home exclusively, and on a regular basis, for any of the following:

  • As the taxpayer’s main place of business.
  • As a place of business where the taxpayer meets patients, clients or customers. The taxpayer must meet these people in the normal course of business.
  • If it is a separate structure that is not attached to the taxpayer’s home. The taxpayer must use this structure in connection with their business
  • A place where the taxpayer stores inventory or samples. This place must be the sole, fixed location of their business.
  • Under certain circumstances, the structure where the taxpayer provides day care services.

Deductible expenses for business use of a home include:

  • Real estate taxes
  • Mortgage interest
  • Rent
  • Casualty losses
  • Utilities
  • Insurance
  • Depreciation
  • Repairs and Maintenance

Certain expenses are limited to the net income of the business. These are known as allocable expenses. They include things such as utilities, insurance, and depreciation.  While allocable expenses cannot create a business loss, they can be carried forward to the next year. If the taxpayer carries them forward, the expenses are subject to the same limitation rules.

There are two options for figuring and claiming the home office deduction.

Regular method
This method requires dividing the above expenses of operating the home between personal and business use. Self-employed taxpayers file Form 1040, Schedule C, and compute this deduction on Form 8829.

Simplified method
The simplified method reduces the paperwork and recordkeeping for small businesses. The simplified method has a set rate of $5 a square foot for business use of the home. The maximum deduction allowed is based on up to 300 square feet.

There are special rules for certain business owners:

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By Linda Ray 

Maintaining high ethical standards is paramount in the world of accounting..

There is no room for error, sloppiness or questionable conduct when it comes to managing other people’s money. As an account, it is critical to hold yourself to a high ethical standard so your work will be beyond reproach. You can choose from a number of ethical conduct codes created for the accounting industry.


Integrity is a word commonly used in accounting parlance. Accountants must be honest with their clients and not give them false hope or misrepresent their own credentials. Accountants must honestly report financial data in the proper place and at the appropriate time. Mistakes can happen to anyone, but accountants are expected to act with integrity, own their mistakes and do everything to remedy the errors. Finally, many business leaders rely on the integrity of their accountants when they have to make decisions that don’t have clear-cut answers.


Accountants must never take on a job that has even the appearance of conflict of interest. They must remain objective when dealing with other people’s finances and leave no room for question. Accountants are not allowed, by their own set of rules, to let anyone influence their findings. At the same time, they must not let personal biases or beliefs get in the way of properly executing their obligations.


Accountants take an oath that’s covered more by the code of ethics than any legally binding agreement. That oath enables businesses to entrust accountants with the most minute details about their finances, leaving nothing out for fear of gossip or loose-lipped financial professionals. Accountants cannot ethically use any information they learn from clients for their own personal gain. Additionally, this rule of confidentiality extends in perpetuity, long after the accountant has severed ties with the client.


Accountants are required to act professionally at all times. They shouldn’t be involved in any activities, either at work or in their own personal lives, that could bring shame on the profession. They should be courteous at all times and be considerate of their clients’ needs and business practices. Another aspect of professionalism involves maintaining credentials and continuing education. Professional accountants are expected to keep up with changes in the field and maintain any license requirements for their certifications

As taxpayers are completing their 2018 tax returns this year, they must complete the lines related to health care.

For tax year 2018, the IRS will not consider a return complete and accurate if individuals do not do one of the following on their return:

  • Report full-year health coverage
  • Claim a coverage exemption
  • Report and make a shared responsibility payment for everyone on the tax return

The law continues to require taxpayers who do not qualify for an exemption to maintain health care coverage in 2018 or make a shared responsibility payment when they file their tax return.

Most taxpayers have qualifying health coverage or a coverage exemption for all 12 months in the year and will check the box on the front of their tax return. Taxpayers who can check the box don’t have to file Form 8965, Health Coverage Exemptions, to claim any coverage exemptions. This includes the coverage exemption for household income below the filing threshold.

Taxpayers who did not have coverage for the entire year and therefore can’t check the box generally must report a shared responsibility payment when they file. They will report this payment for each month that anyone listed on the tax return didn’t have qualifying health care coverage or a coverage exemption.

Taxpayers can determine if they are eligible for a coverage exemption or are responsible for the individual shared responsibility payment by using the Interactive Tax Assistant on

In addition, taxpayers may be eligible for the premium tax credit if they purchased health coverage through the Health Insurance Marketplace. Anyone who needs health coverage can visit to learn about health insurance options that are available for them and their family.

Under the Tax Cuts and Jobs Act, the shared responsibility payment is reduced to zero for tax year 2019 and all subsequent years. See Publication 5307, Tax Reform Basics for Individuals and Families, for information about the shared responsibility payment for tax year 2019.

Taxpayers can visit for more information about the Affordable Care Act and filing a 2018 tax return.

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The 2018 Form 1040 replaces prior year Forms 1040, 1040A and 1040EZ. The 2018 Form 1040 uses a building-block approach that allows individuals to file only the schedules they need with their federal tax return. Many people will only need to file Form 1040 and no schedules.

Electronic filers may not notice these changes as the tax software will automatically use their responses to complete the Form 1040 and any needed schedules. For taxpayers who filed paper returns in the past and are concerned about the 2018 changes, this may be the year to consider the benefits of filing electronically.

While commonly used lines on the prior year form are still on the 2018 Form 1040, other lines are now Schedules 1 through 6 and organized by category. The six new numbered schedules are in addition to the existing schedules, such as Schedule A, Itemized Deductions, or Schedule C, Profit or Loss from Business.

Here’s a guide to help taxpayers determine what schedules they may need to file with the 2018 Form 1040:

Schedule 1, Additional Taxes and Adjustments to Income

  • Taxpayers use this schedule to report income or adjustments to income that can’t be entered directly on Form 1040. This includes capital gains, unemployment pay, prize money, and gambling winnings. This also includes the student loan interest deduction, self-employment tax, or educator expenses.

Schedule 2, Additional Tax

  • This scheduled is used by taxpayers in specific situations. Those who owe alternative minimum tax or need to make an excess advance premium tax credit repayment will file this schedule.

Schedule 3, Nonrefundable Credits

  • Taxpayers use this schedule to report nonrefundable credits other than the child tax credit or the credit for other dependents. These include the foreign tax credit, education credits, and general business credit.

Schedule 4, Other Taxes

  • Taxpayers use this schedule to report certain taxes. These include self-employment tax, household employment taxes, tax-favored accounts, and additional tax on IRAs and other retirement plans.

Schedule 5, Other Payments and Refundable Credits

  • Taxpayers who claim specific refundable credits or have other payments withheld will file this schedule. These other payments include:
    • Payment made when the taxpayer requests an extension.
    • Payment of excess social security.

Schedule 6, Foreign Address and Third-Party Designee

  • Taxpayers use this schedule to enter a foreign address. Anyone who wants to allow someone other than their paid preparer to discuss their tax return with the IRS will also file Schedule 6.

More information:
About the Form 1040, U.S. Individual Income Tax Return
Questions and Answers About the 2018 Form 1040
Get Ready for Tax Filing Season
Publication 17, Your Federal Income Tax for Individuals

The December 2017 Tax reform legislation affects almost every taxpayer. The IRS is working closely with partners in the tax return preparation and tax software industries to prepare for tax reform affecting tax year 2018. This ongoing collaboration ensures that taxpayers can continue to rely on the IRS, tax professionals and tax software programs when it’s time to file their returns.

As people prepare to file their 2018 tax returns this year, they can visit for answers to their questions about tax reform. Here are several of the resources that will help taxpayers find out how this law affects them:

Tax reform provisions that affect individuals
This is the main tax reform page with information for individual taxpayers. It includes dozens of links to more information on topics from withholding and tax credits to deductions and savings plans.

Tax reform basics for individuals and families
This publication provides information to help individual taxpayers understand the Tax Cuts and Jobs Act and how to comply with federal tax return filing requirements.

Tax reform resources
On this page, taxpayers can find helpful products including news releases, tax reform tax tips, revenue procedures, fact sheets, FAQs and drop-in articles.

Steps to take now to get a jump on next year’s taxes
This page has dozens of resources and tools that people can visit now or any time before they file their 2018 tax returns.

Paycheck Checkup
This page has information for people doing a Paycheck Checkup to see if they’re withholding the right amount of tax from their paychecks. Taxpayers can perform a Paycheck Checkup at the beginning of 2019 to make sure their withholding is correct for the rest of the year.

IRS Withholding Calculator
One way taxpayers can do a Paycheck Checkup is to use the Withholding Calculator. Checking withholding can help taxpayers protect against having too little tax withheld and facing an unexpected tax bill or penalty at tax time.

Taxpayer Advocate
The Taxpayer Advocate Service’s Tax Reform Changes website, available in Englishand Spanish, explains what is changing and what is not this year for individuals. Its interactive information can be reviewed by tax topic or line by line using a Form 1040 example and is updated to show the new 2018 Form 1040 references.

Tax reform
The main tax reform webpage on features information for individuals, but also takes users directly to info for people who are self-employed. It is also a great resource for anyone who does taxes or accounting for a business or charity.

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Last year’s Tax Cuts and Jobs Act made significant changes to the tax law that affect small businesses. The IRS posted two new resources on to help taxpayers understand how these changes affect their bottom line.

Here are some details about these resources:

New publication: Tax reform: What’s new for your business
This electronic publication covers many of the TCJA provisions that are important for small and medium-sized businesses, their owners, and tax professionals to understand. This concise publication includes sections about:

  • Corporate tax provisions
  • Qualified business income deduction
  • Depreciation: Section 168 and 179 modifications
  • Business-related losses, exclusions and deductions
  • Business credits
  • S corporations
  • Farm provisions

New webpage: Tax Reform for Small Business
This one-stop shop highlights important tax reform topics for small businesses. Users can link to several resources, which are grouped by topic:

  • New deduction for qualified businesses
  • Withholding
  • Deductions, depreciation and expensing
  • Employer deduction for certain fringe benefits
  • Like-kind exchanges
  • Real estate rehabilitation tax credit
  • Changes in accounting periods and methods of accounting
  • Corporate methods of accounting
  • Blended federal income tax
  • Employer credit for paid family and medical leave
  • Farmers and ranchers

More information:
Tax Reform Small Business Initiative

Share this tip on social media — #IRSTaxTip: New IRS resources on help businesses understand tax reform.

(All individual tax changes expire on December 31, 2025)

(Final regulations to be issued by United States Treasury Department)


  Current Tax Law New Tax Law
Personal tax rates
Seven tax brackets: 10%, 15%, 25%, 28%, 33%, 35%, 39.6%
Seven tax brackets: 10%, 12%, 22%, 24%, 32%, 35%, 37%;

35% bracket starts at $200,000 (single)/$400,000 (married) of taxable income and 37% bracket starts at $500,000 (single)/$600,000 (married)

Personal long-term capital gains and qualified dividend tax rate Up to 23.8% Unchanged
Passthrough income Taxed at ordinary income tax rate up to 39.6% Taxed at ordinary rate with a potential deduction equal to the lesser of 20% of qualifying business income or 50% of wages paid; deduction is limited for service-oriented business
Standard deduction Married filing jointly: $12,700
Head of household: $9,350
Single: $6,350
Married filing jointly: $24,000
Head of household: $18,000
All others: $12,000

Personal exemption




Head of Household (HOH) filing status Due diligence required to claim HOH status; $500 preparer penalty for noncompliance
Penalty will be adjusted for inflation  
Child tax credit
$1,000 per child, partially refundable; only dependent children qualify; credit begins to phase out when Adjusted Gross Income (AGI) exceeds $75,000 (single)/$110,000 (married)
$2,000 per child, refundable  up to $1,400 per child; $500 for non-child dependents; phase outs begin when AGI exceeds $200,000 (single)/$400,000 (married); child must have SS # to be eligible for credit
Personal state income tax, sales tax, and property tax Allowable in full as itemized deductions
Combined deduction for property tax, income tax and sales tax limited to $10,000




  Current Tax Law New Tax Law
Mortgage interest Interest deductible on up to  $1 million of mortgage debt (including second residence); home equity interest deductible on up to $100,000 loan balance
Interest deductible on up to $750,000 of mortgage debt (including second residence); no deduction for home equity interest; $750,000 limit effective for debt incurred after 12/15/17
Medical expenses Deductible to the extent they exceed 10% of AGI Deductible to the extent they exceed 10% of AGI (7.5% of AGI for 2017 and 2018)
Miscellaneous itemized deductions (such as unreimbursed employee job expenses, tax preparation fees, investment expenses, gambling losses and hobby expenses) Allowable as an itemized deductions if deductions exceed 2% of AGI All 2% itemized deductions are eliminated

Cash charitable contributions


Allowed up to 50% of AGI Allowed up to 60% of AGI
Investment interest expense Allowed as an itemized deduction up to amount of net investment income Final bill was silent on this; deduction is presumed to still be allowed
Itemized deduction phaseout Certain itemized deductions phased out for taxpayers with high income (Pease limitation) Pease limitation repealed
Alternative Minimum Tax (AMT) Supplemental tax imposed on taxpayers whose taxable income, adjusted by disallowing certain deductions, exceed certain exemption amounts Unchanged, but limitations on state and local tax deductions in addition to higher exemption and phaseout  amounts will subject fewer taxpayers to the AMT

AMT exemption amounts


$54,300 single

$84,500 MFJ

$42,250 MFS

$24,100 trusts and estates

$70,300 single

$109,400 MFJ

$54,700 MFS

$24,100 trusts/estates

AMT exemption phaseouts AMT exemption reduced by 25% when Alternative Minimum Taxable Income (AMTI) exceeds:

$120,700 single

$160,900 MFJ

$80,450 MFS

$75,000 trusts/estates


AMT exemption reduced by 25% when AMTI exceeds:

$500,000 single

$1 million MFJ

$500,000 MFS

$75,000 trusts/estates





  Current Tax Law New Tax Law
IRA recharacterizations Individual allowed the recharacterize IRA contribution from regular IRA to Roth IRA or vice-versa before the due date of the 1040; both regular IRA contributions and Roth IRA conversions are allowed to be recharacterized Roth conversions cannot be recharacterized
Deductible to payor; taxable to recipient
Not deductible to payor and not taxable to recipient for decrees executed or modified after 12/31/18
Individual health insurance mandate Individuals penalized for failure to carry minimum essential health insurance coverage Repealed
Exclusion of gain on sale of principal residence Can exclude up to $250,000/$500,000 of gain on sale of principal residence if used as principal residence for 2 out of the previous 5 years Unchanged
1031 exchanges Allowed for almost any type of like-kind property used in a trade or business or held for investment purposes Only allowed for real estate not held primarily for sale
Amounts paid for college athletic seating rights Taxpayer may treat 80% of donation to college as charitable deduction even if they received tickets/seating rights in return No charitable deduction allowed for any donation in which tickets or seating rights are received in return
529 plans Distributions may only be used for qualified higher-education expenses Distributions allowed for tuition at elementary or secondary public, private or religious schools up to $10,000
Income from equity grants Income from equity grants transferred to an employee in connection with the performance of services is generally recognized when the stock vests Employee may elect to defer income from stock options exercised or RSUs settled for up to five years




  Current Tax Law New Tax Law
Estate tax, gift tax and generation skipping tax (GST) Maximum tax rate of 40%; lifetime exemption of $5.49 million per individual; heirs receive stepped-up basis for inherited assets Lifetime exemption increases to $11.2 million for 2018 and will increase for inflation each year until 2025; maximum tax rate remains at 40%; step-up in basis retained

Annual gift tax exclusion


$14,000 $15,000





  Current Tax Law New Tax Law

Maximum C-corporation tax rate


35% 21%
Corporate AMT rate 20% Repealed after 2017; AMT credits refundable from 2018 through 2021
Section 179 depreciation deduction Up to $510,000 for new and used equipment purchases; deduction reduced when total equipment purchases in a single year exceed $2.03 million Up to $1 million for new and used equipment purchases; deduction reduced when total equipment purchases in a single year exceed $2.5 million
Bonus depreciation 50% expensing of the cost of new equipment and qualified assets 100% expensing of the cost of new and usedequipment and qualified assets for assets purchased after 9/27/17
Depreciation of real estate Non-residential real estate depreciated over 39 years and residential real estate depreciated over 27.5 years Unchanged
Net operating losses (NOL)
Generally carried back 2 years and forward 20 years
Carryback repealed except for farms (two years); indefinite carryover deduction limited to 80% of pre-NOL income for losses generated after 2017
Excess business loss No provision Net businesses losses in excess of $500,000 ($250,000 single) are disallowed in the current tax year and become a NOL carried over to the next year
Business interest paid or accrued

Generally deductible in full

Business interest deduction limited to 30% of adjusted taxable income; limitation determined at the entity level; excess deduction carried forward indefinitely; limitation does not apply to businesses with average three-year gross receipts < $25 million




  Current Tax Law New Tax Law
Cash method of accounting

Generally limited to businesses with less than

$5 million of average three-year gross receipts ($1 million for farms)

Gross receipts threshold increased to $25 million of average three-year gross receipts
Accounting for inventories Businesses must generally use the accrual method if inventories are present, unless average three-year gross receipts are < $1 million Businesses with less than $25 million of gross receipts are not required to account for inventories; inventories may be treated as non-incidental materials and supplies or accounted for in conformity with businesses’ financial accounting treatment of inventories
Income recognition Amount included in income (cash or accrual) is determined without regards to when it is included in income for financial accounting purposes Taxpayer must recognize income no later than the tax year when it is recognized as income in an Applicable Financial Statement (AFS) or other financial statement specified by the IRS in § 451(b); does not apply to taxpayer that does not have a financial statement under

§ 451(b)(1)(B)(i)

UNICAP rules – § 263A Businesses with < $10 million of average three-year gross receipts do not have to add certain manufacturing costs to inventory or basis of certain property produced under

§ 263A

Gross receipts threshold increased to $25 million; exceptions to § 263A not based on gross receipts are retained (i.e. R&E expenses, long-term contracts, etc.)
Accounting for long-term contracts Construction companies can opt out of the percentage-of -completion method (PCM) if average three-year gross receipts < $10 million Taxpayers can opt out of PCM if the contact is expected to be completed in under two years AND average three-year gross receipts are < $25 million at the time the contact is entered into




  Current Tax Law New Tax Law
Partnership technical termination A partnership is technically terminated under § 708(b)(1)(B) if there is a sale or exchange of more than 50% of the total interest in partnership capital and profits within a 12-month period 50% technical termination rule of § 708(b)(1)(B) is repealed; a partnership will still technically terminate if the partnership ceases to carry on any business activity § 708(b)(1)
Domestic production activities deduction (DPAD) Domestic producers eligible for a deduction equal to the lesser of 9% of their qualifying income or 50% of wages paid Repealed after 2017
Meals and entertainment expenses Deduction allowed for 50% of business-related meals and entertainment expenses Deduction disallowed for entertainment expenses.

Beginning after 2025 disallows expenses associated with meals provided for convenience of employer

Electing Small Business Trust (ESBT) Nonresident alien may not be a beneficiary of an ESBT Nonresident alien restriction repealed
Carried interest Carried interest to fund managers is taxed at capital gains rate  

3-year holding period required for long-term capital gain rate



Intangible property Self-created intangible assets (patents, designs, secret formulas, etc.) are taxable as capital gains when sold Taxed as ordinary income.
Executive compensation Publicly traded covered employee compensation limited to $1M per year, not including commissions, performance-based compensation, retirement plan contributions and excludable amounts from gross income. Exceptions for commissions and performance-based compensation are repealed. Covered employees include CEO, CFO and the three highest paid officers.
Nonprofit executive compensation No excise tax imposed on nonprofit executive compensation 21% excise tax imposed on nonprofit executive compensation over $1 million
Research or experimentation expenses Deduct currently capitalize and recover over the useful life of research but not less than 60 months or elect to recover over 10 years R&E after 2021 must be capitalized and amortized ratably over a 5 year period.  15 years if conducted outside the US.
Sexual harassment claims subject to nondisclosure agreement Generally deductible along with legal fees Amounts incurred after 12/27/17 for claim on fees are not deductible
Rehabilitation credit 20% credit for qualified rehabilitation expenditures for certified historic structure.

10% credit on pre – ‘36 buildings

10% credit to pre – ’36 buildings is repealed.

20% credit can be claimed ratably over a 5 year period

New credit for employer paid family and medical leave No credit For years beginning after 12/31/2017, but not beginning after 12/31/19, allows businesses to claim a general business credit equal to 12.5% qualifying wages
Dividend-received deduction If a corporation owns 20% of stock, an 80% DRD is allowed; otherwise 70% 80% reduced to 65%

70% reduced to 50%

Exclusions from contributions of capital Contributions of capital is not incurred in income If property is acquired by a corporation and is not contributed by a shareholder as such the adjusted basis of the property is zero if cash must reduce the basis.



The IRS urges taxpayers who make payments or receive payments to check out Publication 1281, Backup Withholding for Missing and Incorrect Name/TIN(s). The newly revised publication helps taxpayers understand how tax reform affects backup withholding. Backup withholding can apply to most kinds of payments reported on Form 1099.

Last year’s Tax Cuts and Jobs Act dropped the backup withholding tax rate from 28 percent to 24 percent.
This affects taxpayers who make and receive payments. Taxpayers who make payments are known as “payers,” while those who receive payments are known as “payees.”

Backup withholding can apply to payments such as:

  • Interest payments
  • Dividends
  • Patronage dividends, but only if at least half of the payment is in money
  • Rents, profits or other income
  • Commissions, fees or other payments for work performed as an independent contractor
  • Payments by brokers and barter exchange transactions
  • Certain portions of payments by fishing boat operators
  • Payment card and third-party network transactions
  • Royalty payments
  • Gambling winnings that aren’t subject to regular gambling withholding
  • Taxable grants and agriculture payments

Here are some situations when a payee may be subject to backup withholding They:

  • Fail to give a taxpayer identification number to the payer
  • Give an incorrect TIN
  • Supply a TIN in an improper manner
  • Underreport interest or dividends on their income tax return
  • Fail to certify that they’re not subject to backup withholding for underreporting of interest and dividends

To stop backup withholding, the payee must correct any issues that caused it. They may need to give the correct TIN to the payer, resolve the underreported income and pay the amount owed, or file a missing return.

A TIN can be a:

  • Social Security number
  • Employer identification number
  • Individual taxpayer identification number
  • Adoption taxpayer identification number

The newly revised Publication 1281 is packed with useful information. It will help any payer who is required to impose backup withholding on any of their payees.

More information:

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