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Bus/Financial - Law: Taxation & Customs / US tax terminology | | English term or phrase: backup withholding | | Context (IRS FAQ page): "Generally, a payment to an individual to compensate for lost wages will not be considered as wages for the purpose of the social security tax OR Medicare tax because it is not an actual payment for employment within the meaning of the law. These payments will also generally not be subject to income tax withholding, unless backup withholding applies." |
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1 day12 hrs confidence:   porez zadržan na izvoru
Explanation:
konkretnije: porez temeljen na prihodima od ulaganja zadržan na izvoru
Backup withholding
Tax withheld from investment income, such as interest and dividends, to ensure that tax is collected on the income. Banks and other organizations are required to report to the IRS all interest and dividend payments made to you, along with your Social Security number or other taxpayer identification number. If they do not have adequate reporting information for you, they are required to withhold 28% of your investment income. The IRS may also require the bank or other organization to withhold tax if the IRS determines you have underreported your investment income. Your Form 1099-INT or Form 1099-DIV will show any backup withholding as "Federal income tax withheld."
http://moneycentral.msn.com/taxes/glossary/glossary.asp?term...
backup witholding tax
http://www.proz.com/kudoz/english_to_french/finance_general/...
http://www.google.com/#hl=en&q=porez zadržan na izvoru&aq=f&...
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Note added at 1 day15 hrs (2010-07-13 11:17:19 GMT)
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Topic 307 - Backup Withholding
Banks and other businesses that make certain kinds of payments must file Form 1099, an information return, with the IRS. Generally, these payments are not subject to withholding; however they may be subject to backup withholding. Payments that may be subject to "backup withholding" include payments of interest, dividends, rents, royalties, payments to independent contractors for services, and broker payments.
http://www.irs.gov/taxtopics/tc307.html
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