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backup withholding
back·up with·hold·ing
noun
Definition:
tax withheld for future liability:
federal income tax on interest payments on deposits that is withheld by a bank when it does not have the account holder's Social Security number
Encarta® World English Dictionary [North American Edition] © & (P)2009 Microsoft Corporation. All rights reserved. Developed for Microsoft by Bloomsbury Publishing Plc.
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