Sec. 3451. Income Tax Collected at Source on...
Sec. 3451. Income Tax Collected at Source on Interest, Dividends and Patronage Dividends
(a) Requirement of withholding. Except as otherwise provided in this subchapter, the payor of any interest, dividend or patronage dividend shall withhold a tax equal to 10 percent of the amount of the payment.
26 USC 3451
(b) Special Rules.
(1) Time of Withholding. Except as otherwise provided in this subchapter, for the purposes of this subchapter--
(A) any payment of interest, dividend, or patronage dividend shall be treated as made, and
(B) the tax imposed by this section shall be withheld,
at the time of such interest, dividend, or patronage dividend is paid or credited.
Again, this section explicitly states that it only applies to interest, dividends and patronage dividends,
NOT SALARY, FEES, WAGES or COMPENSATION.
Last Update: 02/28/07
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