In Private Letter Ruling (PLR) 200244017, the IRS determined that a law firm that had consulted with a foreign lawyer was a withholding agent and required to withhold
on the payment to the foreign lawyer for his work in the United States.
Without such a certificate, the transferee is obligated to withhold
10% on the amount realized and remit this amount to the IRS within 20 days of the transaction, as well as report the withholding tax on Form 8288.
An employer who fails to deduct and withhold
the required amount of tax is liable for any underpayment of tax by the employee, up to the amount the employer failed to deduct and withhold
If utilization is conservative, the withhold
is distributed to the provider and total revenue and profit increases.
Under the past tables, their employer would withhold
tax from their pay at the rate of $165 (wife) and $198 (husband).
In mid-October 1982, several high-level Justice Department attorneys met and decided to withhold
some of the EPA documents requested by congressional committees.
The payor of investment income to a foreign investor is required to withhold
real property interest from a foreign person must deduct and withhold
a tax equal to 10% of the amount realized, which includes the amount of mortgage liabilities assumed or taken by the purchaser with respect to the real property, even if no cash consideration passes hands.
A party that fails to withhold
when required may become liable for the amount of the withholding, as well as penalties and interest under Regs.
sources must withhold
tax--generally 30%--and remit it to the IRS.
withholding agents generally do not need to withhold
on ECI payments, except where a U.
The last step is to determine whether it's necessary to withhold
Under Regulation 105, Canadian organizations must withhold
taxes from payments to nonresident service providers.
All comments used in Feedback must be signed, but we will withhold
names on request.
Withholding requirements: Generally, a transferee of a USRPI must withhold
, report, and pay over to the IRS a tax under Sec.