Section 3402(t) Proposed Regulations Issued for Comment |
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Congress has enacted Internal Revenue Code Section 3402(t) which imposes withholding rules on certain governmental entities, as both the payers and recipients of funds. The proposed Regulations for implementing this section were published in the Federal Register on December 5 , 2008. Comments or requests for a public hearing may be made until March 5, 2009. To submit comments electronically, go to www.regulations.gov and search for (IRS REG-158747-06). The Summary in the published regulations contains procedures for submitting comments in person or by mail.
Some major points for tribes are:
The proposed Regulation does not specifically address the application of Section 3402(t) on Section 17 corporations, or on other wholly-owned tribal entities that are not pass-through entities.
The office of Indian Tribal Governments will continue to provide information on these provisions, as it becomes available, on its website.
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Page Last Reviewed or Updated: December 24, 2008