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Investments glossary

Backup Withholding


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Quotes of the day:

(The drugs) cause a reduction in the parasite so when the mosquito bites the person it doesn\'t transmit the disease.

— Neeraj Mistry

Backup withholding is a tax that is levied on investment income, at an established tax rate, as the investor withdraws it. For payments not subject to withholding, payers are required to withhold the tax. Backup withholding helps to ensure that government tax-collecting agencies, such as the Internal Revenue Service (IRS) or Canada Revenue Agency, will be able to receive income taxes owed to them from investors’ earnings.


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