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Requirement to deduct and withhold

2 rules0 of 2 subsections

(1) In general In the case of any reportable payment, if— (A) the payee fails to furnish his TIN to the payor in the manner required, (B) the Secretary notifies the payor that the TIN furnished by the payee is incorrect, (C) there has been a notified payee underreporting described in subsection (c), or (D) there has been a payee certification failure described in subsection (d), then the payor shall deduct and withhold from such payment a tax equal to the product of the fourth lowest rate of tax applicable under section 1(c) 1 1 See References in Text note below. and such payment.

(2) Subparagraphs (C) and (D) of paragraph (1) apply only to interest and dividend payments Subparagraphs (C) and (D) of paragraph (1) shall apply only to reportable interest or dividend payments.

(1)In general#

In the case of any reportable payment, if—

(A) the payee fails to furnish his TIN to the payor in the manner required,

(B) the Secretary notifies the payor that the TIN furnished by the payee is incorrect,

(D) there has been a payee certification failure described in subsection (d),

then the payor shall deduct and withhold from such payment a tax equal to the product of the fourth lowest rate of tax applicable under section 1(c) 1 1 See References in Text note below. and such payment.

(2)Subparagraphs (C) and (D) of paragraph (1) apply only to interest and dividend payments#

Subparagraphs (C) and (D) of paragraph (1) shall apply only to reportable interest or dividend payments.

in view

Whole section

Encodings · 2

underreporting_or_certification_failure_applies_to_payment26 USC § 3406 (a) · derived

26 USC 3406(a)(1)(C)-(D), 3406(a)(2)

name: underreporting_or_certification_failure_applies_to_payment
kind: derived
entity: Payment
dtype: Judgment
period: Year
source: 26 USC 3406(a)(1)(C)-(D), 3406(a)(2)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: condition
        source:
          corpus_citation_path: us/statute/26/3406
          excerpt: >-
            there has been a notified payee underreporting described in
            subsection (c), or (D) there has been a payee certification failure
            described in subsection (d)
      - path: versions[0].formula
        kind: condition
        source:
          corpus_citation_path: us/statute/26/3406
          excerpt: >-
            Subparagraphs (C) and (D) of paragraph (1) shall apply only to
            reportable interest or dividend payments.
versions:
  - effective_from: '1990-01-01'
    formula: |-
      reportable_interest_or_dividend_payment
      and (
          notified_payee_underreporting_described_in_subsection_c
          or payee_certification_failure_described_in_subsection_d
      )

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backup_withholding_requirement_applies26 USC § 3406 (a) · derived

26 USC 3406(a)(1), 3406(a)(2)

name: backup_withholding_requirement_applies
kind: derived
entity: Payment
dtype: Judgment
period: Year
source: 26 USC 3406(a)(1), 3406(a)(2)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: condition
        source:
          corpus_citation_path: us/statute/26/3406
          excerpt: In the case of any reportable payment, if—
      - path: versions[0].formula
        kind: condition
        source:
          corpus_citation_path: us/statute/26/3406
          excerpt: >-
            the payee fails to furnish his TIN to the payor in the manner
            required
      - path: versions[0].formula
        kind: condition
        source:
          corpus_citation_path: us/statute/26/3406
          excerpt: >-
            the Secretary notifies the payor that the TIN furnished by the payee
            is incorrect
      - path: versions[0].formula
        kind: import
        import:
          target: >-
            us:statutes/26/3406/a#underreporting_or_certification_failure_applies_to_payment
          output: underreporting_or_certification_failure_applies_to_payment
          hash: sha256:local
versions:
  - effective_from: '1990-01-01'
    formula: |-
      reportable_payment
      and (
          payee_fails_to_furnish_tin_to_payor_in_required_manner
          or secretary_notifies_payor_that_tin_furnished_by_payee_is_incorrect
          or underreporting_or_certification_failure_applies_to_payment
      )

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▸rulespec code

Shown source

statutes/26/3406/a.yaml

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View on GitHub

Rules

underreporting_or_certification_failure_applies_to_payment

Derived

source: 26 USC 3406(a)(1)(C)-(D), 3406(a)(2)

- name: underreporting_or_certification_failure_applies_to_payment
  kind: derived
  entity: Payment
  dtype: Judgment
  period: Year
  source: 26 USC 3406(a)(1)(C)-(D), 3406(a)(2)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us/statute/26/3406
            excerpt: >-
              there has been a notified payee underreporting described in subsection (c), or (D)
              there has been a payee certification failure described in subsection (d)
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us/statute/26/3406
            excerpt: >-
              Subparagraphs (C) and (D) of paragraph (1) shall apply only to reportable interest or
              dividend payments.
  versions:
    - effective_from: '1990-01-01'
      formula: |-
        reportable_interest_or_dividend_payment
        and (
            notified_payee_underreporting_described_in_subsection_c
            or payee_certification_failure_described_in_subsection_d
        )

backup_withholding_requirement_applies

Derived

source: 26 USC 3406(a)(1), 3406(a)(2)

- name: backup_withholding_requirement_applies
  kind: derived
  entity: Payment
  dtype: Judgment
  period: Year
  source: 26 USC 3406(a)(1), 3406(a)(2)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us/statute/26/3406
            excerpt: In the case of any reportable payment, if—
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us/statute/26/3406
            excerpt: the payee fails to furnish his TIN to the payor in the manner required
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us/statute/26/3406
            excerpt: the Secretary notifies the payor that the TIN furnished by the payee is incorrect
        - path: versions[0].formula
          kind: import
          import:
            target: us:statutes/26/3406/a#underreporting_or_certification_failure_applies_to_payment
            output: underreporting_or_certification_failure_applies_to_payment
            hash: sha256:local
  versions:
    - effective_from: '1990-01-01'
      formula: |-
        reportable_payment
        and (
            payee_fails_to_furnish_tin_to_payor_in_required_manner
            or secretary_notifies_payor_that_tin_furnished_by_payee_is_incorrect
            or underreporting_or_certification_failure_applies_to_payment
        )

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us/statute/26/3406/a — Requirement to deduct and withhold · Axiom

Requirement to deduct and withhold

2 rules0 of 2 subsections

Official source

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(2) Subparagraphs (C) and (D) of paragraph (1) apply only to interest and dividend payments Subparagraphs (C) and (D) of paragraph (1) shall apply only to reportable interest or dividend payments.

(1)In general#

In the case of any reportable payment, if—

(A) the payee fails to furnish his TIN to the payor in the manner required,

(B) the Secretary notifies the payor that the TIN furnished by the payee is incorrect,

(D) there has been a payee certification failure described in subsection (d),

(2)Subparagraphs (C) and (D) of paragraph (1) apply only to interest and dividend payments#

Subparagraphs (C) and (D) of paragraph (1) shall apply only to reportable interest or dividend payments.

in view

Whole section

Encodings · 2

underreporting_or_certification_failure_applies_to_payment26 USC § 3406 (a) · derived

26 USC 3406(a)(1)(C)-(D), 3406(a)(2)

name: underreporting_or_certification_failure_applies_to_payment
kind: derived
entity: Payment
dtype: Judgment
period: Year
source: 26 USC 3406(a)(1)(C)-(D), 3406(a)(2)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: condition
        source:
          corpus_citation_path: us/statute/26/3406
          excerpt: >-
            there has been a notified payee underreporting described in
            subsection (c), or (D) there has been a payee certification failure
            described in subsection (d)
      - path: versions[0].formula
        kind: condition
        source:
          corpus_citation_path: us/statute/26/3406
          excerpt: >-
            Subparagraphs (C) and (D) of paragraph (1) shall apply only to
            reportable interest or dividend payments.
versions:
  - effective_from: '1990-01-01'
    formula: |-
      reportable_interest_or_dividend_payment
      and (
          notified_payee_underreporting_described_in_subsection_c
          or payee_certification_failure_described_in_subsection_d
      )

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backup_withholding_requirement_applies26 USC § 3406 (a) · derived

26 USC 3406(a)(1), 3406(a)(2)

name: backup_withholding_requirement_applies
kind: derived
entity: Payment
dtype: Judgment
period: Year
source: 26 USC 3406(a)(1), 3406(a)(2)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: condition
        source:
          corpus_citation_path: us/statute/26/3406
          excerpt: In the case of any reportable payment, if—
      - path: versions[0].formula
        kind: condition
        source:
          corpus_citation_path: us/statute/26/3406
          excerpt: >-
            the payee fails to furnish his TIN to the payor in the manner
            required
      - path: versions[0].formula
        kind: condition
        source:
          corpus_citation_path: us/statute/26/3406
          excerpt: >-
            the Secretary notifies the payor that the TIN furnished by the payee
            is incorrect
      - path: versions[0].formula
        kind: import
        import:
          target: >-
            us:statutes/26/3406/a#underreporting_or_certification_failure_applies_to_payment
          output: underreporting_or_certification_failure_applies_to_payment
          hash: sha256:local
versions:
  - effective_from: '1990-01-01'
    formula: |-
      reportable_payment
      and (
          payee_fails_to_furnish_tin_to_payor_in_required_manner
          or secretary_notifies_payor_that_tin_furnished_by_payee_is_incorrect
          or underreporting_or_certification_failure_applies_to_payment
      )

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▸rulespec code

Shown source

statutes/26/3406/a.yaml

Displaying the canonical repository encoding.

View on GitHub

Rules

underreporting_or_certification_failure_applies_to_payment

Derived

source: 26 USC 3406(a)(1)(C)-(D), 3406(a)(2)

- name: underreporting_or_certification_failure_applies_to_payment
  kind: derived
  entity: Payment
  dtype: Judgment
  period: Year
  source: 26 USC 3406(a)(1)(C)-(D), 3406(a)(2)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us/statute/26/3406
            excerpt: >-
              there has been a notified payee underreporting described in subsection (c), or (D)
              there has been a payee certification failure described in subsection (d)
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us/statute/26/3406
            excerpt: >-
              Subparagraphs (C) and (D) of paragraph (1) shall apply only to reportable interest or
              dividend payments.
  versions:
    - effective_from: '1990-01-01'
      formula: |-
        reportable_interest_or_dividend_payment
        and (
            notified_payee_underreporting_described_in_subsection_c
            or payee_certification_failure_described_in_subsection_d
        )

backup_withholding_requirement_applies

Derived

source: 26 USC 3406(a)(1), 3406(a)(2)

- name: backup_withholding_requirement_applies
  kind: derived
  entity: Payment
  dtype: Judgment
  period: Year
  source: 26 USC 3406(a)(1), 3406(a)(2)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us/statute/26/3406
            excerpt: In the case of any reportable payment, if—
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us/statute/26/3406
            excerpt: the payee fails to furnish his TIN to the payor in the manner required
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us/statute/26/3406
            excerpt: the Secretary notifies the payor that the TIN furnished by the payee is incorrect
        - path: versions[0].formula
          kind: import
          import:
            target: us:statutes/26/3406/a#underreporting_or_certification_failure_applies_to_payment
            output: underreporting_or_certification_failure_applies_to_payment
            hash: sha256:local
  versions:
    - effective_from: '1990-01-01'
      formula: |-
        reportable_payment
        and (
            payee_fails_to_furnish_tin_to_payor_in_required_manner
            or secretary_notifies_payor_that_tin_furnished_by_payee_is_incorrect
            or underreporting_or_certification_failure_applies_to_payment
        )