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Ed Johnson
Ed Johnson, Tax Preparer
Category: Tax
Satisfied Customers: 10760
Experience:  GPHR Cert; U.S. Treasury Tax Advocacy Panel appointee
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what is the tefra tax ...

Customer Question

what is the tefra witholding tax. Is it corporate or personal
Submitted: 10 years ago.
Category: Tax
Expert:  Ed Johnson replied 10 years ago.

DearCustomer


TEFRA is income tax backup withholding for your personal income tax. This occurs in situations where you have not provided a tax Id or social security number to payers of dividend, intersest and other 1099 income.


It is based on the Tax Equity and Fiscal Responsibility Act of 1982 which went into affect on 1 January 1984.

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