This means that backup withholding will be required on section 6050W payments made after December 31, 2012 .
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Payments that are reported on forms 1099 may be subject to backup withholding, just as if cash payments were made.
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Specifically, backup withholding of 28% is required if a payee fails to furnish a correct taxpayer identification number to the payor.
As a result, the IRS is postponing the effective date for backup withholding (as it applies to section 6050W payments) for an additional year.
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