26 CFR 31.3406(a)-2 - Definition of payors obligated to backup withhold.

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There are 12 Updates appearing in the Federal Register for 26 CFR 31. View below or at eCFR (GPOAccess)
§ 31.3406(a)-2 Definition of payors obligated to backup withhold.
(a) In general. Payor means the person that is required to make an information return under section 6041, 6041A(a), 6042, 6044, 6045, 6049, 6050A, 6050N, or 6050W with respect to any reportable payment (as described in section 3406(b)), or that is described in paragraph (b) of this section.
(b) Persons treated as payors. The following persons are treated as payors for purposes of section 3406—
(1) A grantor trust established after December 31, 1995, all of which is owned by two or more grantors (treating for this purpose spouses filing a joint return as one grantor);
(2) A grantor trust with ten or more grantors established on or after January 1, 1984 but before January 1, 1996;
(3) A common trust fund; and
(4) A partnership or an S corporation that makes a reportable payment.
(c) Persons not treated as payors. A person on the following list is not treated as a payor for purposes of section 3406 if the person does not have a reporting obligation under the section on information reporting to which the payment relates—
(1) A trust (other than a grantor trust as described in paragraph (b)(1) or (2) of this section) that files a Form 1041 containing information required to be shown on an information return, including amounts withheld under section 3406; or
(2) A partnership making a payment of a distributive share or an S corporation making a similar distribution.
(d) Effective date. The provisions of this section apply to payments made after December 31, 2002.
[T.D. 9010, 67 FR 48759, July 26, 2002, as amended by T.D. 9496, 75 FR 49835, Aug. 16, 2010]

Title 26 published on 2013-04-01

The following are only the Rules published in the Federal Register after the published date of Title 26.

For a complete list of all Rules, Proposed Rules, and Notices view the Rulemaking tab.

  • 2014-10-27; vol. 79 # 207 - Monday, October 27, 2014
    1. 79 FR 63811 - Removal of the Qualified Payment Card Agent Program
      GPO FDSys XML | Text
      DEPARTMENT OF THE TREASURY, Internal Revenue Service
      Final regulations.
      These regulations are effective October 27, 2014.
      26 CFR Parts 31 and 301

Title 26 published on 2013-04-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 26 CFR 31 after this date.

  • 2014-10-27; vol. 79 # 207 - Monday, October 27, 2014
    1. 79 FR 63811 - Removal of the Qualified Payment Card Agent Program
      GPO FDSys XML | Text
      DEPARTMENT OF THE TREASURY, Internal Revenue Service
      Final regulations.
      These regulations are effective October 27, 2014.
      26 CFR Parts 31 and 301