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Home > QFINANCE Dictionary > Definition of backup withholding

Definition of

backup withholding


tax payable on miscellaneous income in the United States, a withholding tax that a payer sends to the Internal Revenue Service so that somebody who has received certain types of income such as dividends or interest, or who has not provided a correct taxpayer identification number, cannot avoid all taxes on that income

Definitions of ’backup withholding’ and meaning of ’backup withholding’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’backup withholding’ and other financial terms with our online QFINANCE Financial Dictionary.

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