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EN
Final regs. issued for Sec. 3406 backup withholding rules
['Martha Waggoner']
The Tax Adviser
The IRS published final regulations (T.D.
3406 backup withholding threshold made by H.R.
The final regulations adopt proposed regulations published in January without change.
6050W to revert the threshold for filing Form 1099-K, Payment Card and Third Party Network Transactions, to those same reporting thresholds.
The final regulations apply to calendar years beginning after Dec. 31, 2024.