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 Publication 1281 Rev 5 Backup Withholding on Missing and Incorrect NameTINs Including Instructions for Reading Tape Cartridges a 2021

Irs 147c 2021-2025 Form

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How to irs backup withholding

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Instructions and help about irs backup withholding

all right for this video I want to go through the IRS form 1099 int for the 2023 calendar year and in this example we're going to look at a taxpayer reporting interest income in box one on their return but they also have some federal income taxes withheld in box 4 so we're going to talk about why that happens generally and then where you would report it so we've got the 1099 int here and we've also got a sample form 1040 for taxpayer which includes the schedule B so we'll go through that and then we've also got uh just the IRS website here covering backup withholding tax issues so uh what happens when you are looking at your 1099 int and you have some investment income so we have interests there's no other investment income reported here but we also see this box four amount for federal taxes withheld well this generally happens when you have what's called backup withholding on your investment income so backup withholding h

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