An IRS B Notice will be sent out to any Members who have provided us with a legal name and/or Taxpayer Identification Number that does not match what the IRS has on file. The B Notice is an attempt to correct the information we have on file to match the IRS records. If the Member does not provide a timely response to the B Notice, IRS rules require us to impose a backup withholding at a rate of 28% on all future gross payment card transaction amounts owed to the Member. As required by law, all monies withheld will be promptly remitted to the IRS.
What is an IRS B Notice? Print
Created by: Ferris Eanfar
Modified on: Tue, 25 Oct, 2016 at 3:56 AM
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