Collection of Back-up Withholding Taxes from Vendors
Miscellaneous Income, if a vendor fails to furnish its Taxpayer Identification Number (TIN) or if the IRS notifies the payer that the TIN is invalid. In October of each year, the IRS notifies payers of possible errors included on the Form 1099-MISC submitted for the previous tax year (TY) by mailing them a Notice of Possible Payee Name/TIN Discrepancy (CP 2100 Notice). Read the full report