July 9, 1992
TO: TAX COMMITTEE NO. 26-92
OPERATIONS COMMITTEE NO. 19-92
TRANSFER AGENT ADVISORY COMMITTEE NO. 37-92
RE: BACKUP WITHHOLDING ISSUES LIST
__________________________________________________________
The IRS’ Information Reporting Program Advisory Committee
("IRPAC"), of which I am a member, is considering making a
presentation at its next meeting (in December) on problems
arising under the current backup withholding regime. Among the
problems identified at a recent IRPAC Policy and Legislation
Subcommittee meeting were (1) several related to adjustments to
or refunds of backup withholding, (2) the imposition of backup
withholding when a Form W-8 expires after three years and (3)
whether a faxed Form W-9 is sufficient to prevent imposition of
backup withholding.
To enhance the effectiveness of its presentation, the IRPAC
Subcommittee is compiling a list of all backup withholding
problems and possible solutions to them. Please let me know of
any backup withholding problems that you would like IRPAC to
present by either calling me (at 202/955-3585) or sending me a
short memo by fax (at 202/659-1519). If possible, please submit
your problems and resolutions to me no later than Monday, July
27.
We will keep you informed of developments.
Keith D. Lawson
Associate Counsel - Tax