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: You failed to report all your interest or dividend income on previous tax returns.

: Give the payer your correct name and TIN. 307 mp4

Banks and businesses typically pay interest, dividends, and other income without withholding taxes. However, they must withhold a flat percentage (currently ) if any of the following apply: : You failed to report all your interest

: You did not certify that you are exempt from backup withholding (usually on Form W-9). Common Income Types Subject to 307 Interest payments Rents, profits, or other gains Commissions or fees for work as an independent contractor Broker payments 🛑 How to Stop or Prevent It 307 mp4