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B Notices: What You Should Know

The reason your TIN is considered part of your taxpayer identification record is because it is used to calculate the gross income and the tax withheld, and it is the number that is used to input any taxes withheld (e.g., tax credits, refund offsets, ETC and so forth). This type of information is commonly used to identify the taxpayer by the form of a taxpayer identification number, such as the social security number (SSN). It is also used to identify individuals who receive certain types of government aid, such as food stamp benefits or state welfare benefits. The SSN may be on a government record such as voter's registration, student identification, or a driver's license. You should also check your federal tax return from 2024 to 2024 to see if the “SSN” listed has changed. What Is a Backup Withholding Notice? §542, paragraph 6A A backup withholding notice (B-notice) is a notice given to an employee about backup withholding. The Backup Withholding Notice will tell you if and how backup withholding is to be assessed on the payee's account, and it will warn you that you may be liable for the backup withholding. The Notice will also advise you of other actions, such as a notice that you may be liable for the payment of back taxes. What is backup withholding? §542, paragraph 6K Backup withholding is the process of withholding tax (withholding of tax on uncollected taxes, or additional tax, such as the net operating loss) from amounts that have been reported to the government as income by an individual or a business because: either the individual or business is delinquent in reporting the income; the tax liability is due and not yet paid; or it was lost due to a natural disaster or other event beyond the individual's or business's control. You receive the Backup Withholding Notice because your account has not been audited by the IRS. What are the Backup Withholding Payments? §544, paragraph 3(h) Under §544, paragraph 3 of the regulations, an account is deemed to have been audited if the account is subject to the backup withholding payments. Backup withholding payments are payments made to the payer to recover the tax withheld from the payee's account. This includes payments made to cover the cost of taxes withheld.

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