What this notice is about
This first notice is sent to tell the taxpayer they may be subject to backup withholding for unreported or unpaid interest or dividend income.
What you need to do
- File Form 1040, U.S. Individual Income Tax Return PDF, if you haven’t already filed.
- Review your filed Form 1040 for underreported interest or dividend income.
- File an amended Form 1040 for any underreported interest or dividend income.
- Pay any taxes owed on Form 1040 with interest or dividend income.
You may want to
- Read about backup withholding.
- Review Publication 1335, Backup Withholding Questions and Answers PDF.
- View your payoff amount, payment history, or order transcripts using the Tax Account tool.
Frequently asked questions
What is backup withholding?
Backup withholding is withholding on mostly interest and dividend income that the payer will withhold when we instruct them to do so.
What is the backup withholding rate?
The current rate is 24% and can increase or decrease with the tax laws.
How long will the payer continue backup withholding?
The payer should continue until we instruct them to stop or until the payee provides written certification from us that they’re no longer subject to backup withholding.
Tips for next year
Tips for next year
- File your tax return timely
- Report all interest and dividend income
- Pay all taxes due
Bezwen èd?
- Ou ka otorize yon moun (an anglè) pou kontakte IRS la pou ou.
- Gade si w kalifye pou resevwa èd nan men yon Sant pou Kontribyab ki gen Revni Fèb (an anglè).
- Si w pa kapab jwenn sa w vle a anliy, rele nan nimewo IRS nan pati anlè avi oswa lèt ou a. Si w pa te resevwa yon lèt oswa yon avi, itilize asistans telefonik
- Si ou pa ka rezoud penalite a poukont ou, kontakte Sèvis Defans Kontribyab la, yon òganizasyon endepandan anndan IRS.