Financial Management - PSFT (MOSC)

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IRC Section 3402(t)

edited Mar 9, 2011 1:47AM in Financial Management - PSFT (MOSC) 1 commentAnswered
  Please provide details on the delivery process to meet these new regulations.

The IRS published Notice 2010-91 on December 27, 2010 giving guidance on the application to payment card transactions of the IRC Section 3402(t) requirement that governmental entities withhold 3% for payments for property and services.  This new law, except for payment card transactions, is applicable for payments after December 31, 2011.

Thank you~ amh

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