Financial Management - PSFT (MOSC)

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How to withhold 1099 payment at the rate of 24% in PeopleSoft?

edited Dec 11, 2025 5:04PM in Financial Management - PSFT (MOSC) 4 commentsAnswered

We get notice to withhold 24% of payment of a vendor (1099N class 1). All the rules in the system are set up to withhold 31% of total amount. What set up is required to withhold payment as per Internal Revenue Code(IRC) section 3046(a).

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