A notification will be sent to some merchants regarding the TIN (Tax Identification Number) mismatch. An action is required from all merchants that are receiving the message.
If you do not take the appropriate action to resolve this problem you may be subject to a required backup withholding. The Federal backup withholding is 28%, in addition to a possible State tax withholding (percentage varies by state). Continue reading “IMPORTANT: IRS Communication on it way.”