REG-151687-10 NPRM and TD 9524 Final REG

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IRS GuideWire May 12, 2011

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Issue Number:    REG-151687-10 NPRM and TD 9524 Final REG

Inside This Issue


REG-151687-10 contains proposed regulations relating to withholding by government entities on payments to persons providing property or services.  The proposed regulations reflect changes in the law made by the Tax Increase Prevention and Reconciliation Act of 2005 that require Federal, State, and local government entities to withhold income tax when making payments to persons providing property or services.  These proposed regulations would change the provisions related to the effective date of the final regulations concerning these withholding requirements that are being issued concurrently with these proposed regulations.  The guidance affects government entities that are required to withhold from payments to persons providing property or services and persons receiving the payments.  

TD 9524 ontains final regulations relating to withholding by government entities.  These regulations reflect changes in the law made by the Tax Increase Prevention and Reconciliation Act of 2005 that require Federal, State, and local government entities to withhold income tax when making payments to persons providing property or services.  These regulations affect Federal, State, and local government entities that will be required to withhold and report tax from payments to persons providing property or services and also affect the persons receiving payments for property or services from the government entities.

 

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