Why do I have a backup withholding notice?

Every year, Betterment receives a list from the IRS of customers that may have a discrepancy between the name and/or SSN/TIN on file with the IRS and on file with Betterment. Betterment is required by the IRS to implement backup withholding for such customers if this discrepancy is not resolved. When backup withholding is implemented at Betterment, it is done in compliance with IRS regulations to withhold taxes from payments that require withholding. While backup withholding is on in your ...

Backup Withholding

Tax information

Every year, Betterment receives a list from the IRS of customers that may have a discrepancy between the name and/or SSN/TIN on file with the IRS and on file with Betterment. Betterment is required by the IRS to implement backup withholding for such customers if this discrepancy is not resolved. When backup withholding is implemented at Betterment, it is done in compliance with IRS regulations to withhold taxes from payments that require withholding. While backup withholding is on in your ...
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