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#1942447 - 07/17/14 07:00 PM Backup withholding
Lu Offline
Platinum Poster
Joined: Apr 2002
Posts: 597
If a customer doesn’t sign the backup withholding section on the signature card is that a big deal? Just yes or no?
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Deposits and Payments
#1942478 - 07/17/14 07:20 PM Re: Backup withholding Lu
Elwood P. Dowd Offline
10K Club
Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
If you do not obtain a certification that the customer is not subject to backup withholding, then you begin backup withholding immediately.
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#1942791 - 07/18/14 02:58 PM Re: Backup withholding Lu
Milby Offline
Platinum Poster
Joined: Apr 2007
Posts: 953
Tejas
Non-interest bearing: No
Interest bearing: Yes (but in terms of "big deals" this, IMO, is a small-ish big deal. I would call it an "easily resolved account documentation issue")

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#1943006 - 07/18/14 05:57 PM Re: Backup withholding Milby
Elwood P. Dowd Offline
10K Club
Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
Yes, imposing backup withholding on a non interest bearing account would be a task of extraordinary difficulty.
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In this world you must be oh so smart or oh so pleasant. Well, for years I was smart. I recommend pleasant.

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