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Withholding agent

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12:56 Mar 2, 2002
English to English translations [PRO]
Bus/Financial / Taxes, income, withholding tax at source
English term or phrase: Withholding agent
Income tax return

Form 1042 - S
concerning
Foreign Person's U.S. Source Income Subject to Withholding

It's a term in the form itself
xxxBabouchka
Local time: 02:38
English translation:please read on
Explanation:
Witholding taxes at source means that the employer subtracts taxes from pay and then pays them to the government.
I assume, therefore, that withholding agent here is the company or organization that withholds the taxes.
here is the definition according to the law:
(16) Withholding agent



The term ''withholding agent'' means any person required to deduct and withhold any tax under the provisions of section 1441, 1442, 1443, or 1461.


Selected response from:

CLS Lexi-tech
Local time: 20:38
Grading comment
Graded automatically based on peer agreement. KudoZ.
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +3please read on
CLS Lexi-tech
5See definitions and explanations from the lins below:
Olga Simon


  

Answers


7 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +3
please read on


Explanation:
Witholding taxes at source means that the employer subtracts taxes from pay and then pays them to the government.
I assume, therefore, that withholding agent here is the company or organization that withholds the taxes.
here is the definition according to the law:
(16) Withholding agent



The term ''withholding agent'' means any person required to deduct and withhold any tax under the provisions of section 1441, 1442, 1443, or 1461.





    Reference: http://www4.law.cornell.edu/uscode/26/7701.html
CLS Lexi-tech
Local time: 20:38
Native speaker of: Native in ItalianItalian
PRO pts in pair: 12
Grading comment
Graded automatically based on peer agreement. KudoZ.

Peer comments on this answer (and responses from the answerer)
agree  swisstell
1 hr

agree  Michael Sebold
8 hrs

agree  AhmedAMS
8 days
Login to enter a peer comment (or grade)

2 hrs   confidence: Answerer confidence 5/5
See definitions and explanations from the lins below:


Explanation:
More About Withholding

... Withholding Agent Certificate? and the W-4 ©. Employers ... 26
USC 7701 (a)(16) Withholding Agent ?. The ...

www.taxgate.com/articles/withholding_agent.htm - 19k - Cached - Similar pages

Sec. 7701. Withholding Agent & Definitions
Sec. 7701. Withholding Agent & Definitions. Sec. 7701. Withholding Agent
& Definitions. Sec. 7701. Withholding Agent & Definitions. ...

www.tax-freedom.com/ta06001.htm - 5k - Cached - Similar pages



Olga Simon
Hungary
Local time: 02:38
Native speaker of: Native in RussianRussian
PRO pts in pair: 12
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