I noticed that the IRS published a notice that has changed the interest withholding amount from the current 30% to 28% effective now (http://www.irs.gov/pub/irs-pdf/n1036.pdf). Do any of you have anymore information on this amount and in any changes for future years? Thank you.

The information is supposed to be published with the 1099 general instructions

Hey! they're finally back on-line! Last time I checked (last week), there was still the notice that they had been withdrawn for editing and would be back on June 18th.

Go to page GEN-3, and there's information on Backup Withholding starting in the lower right corner. "...backup withholding at a 28% rate."

I don't see anything about it changing in the next few years like it was going to until this recent change, but haven't had a chance to read through the whole thing.

I had gone out on the IRS website awhile back when I had heard about a change and found that this is what they listed:
30% in 2002 and 2003
29% in 2004 and 2005
28% 2006 and thereafter
If you pull up the IRS website and put in the word search of withholding, there are several articles which relate to the change.

Michelle,
Orignal poster here. I found the same thing in that there was still some guidance that advised of the 30% amount. They must be changing their docs as we speak.