FT MarketWatch

Backup withholding

An IRS procedure designed to ensure that a taxpayer who does not have a Social Security number or Tax identification number will still have taxes withheld on his/her income.

Related Terms: 10 ECU, FICA, Inc., Payer, ROC, ROCE, SEC, Social Security, Tax, Tax identification number
Other Related Pages: Category: Taxes Starting With: B
Additional Related Terms: After-tax basis, Agency security, Asset-backed security, At par, All or any part, At best, At call, Accumulated earnings tax, At risk, Add-on service