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Backup withholding 24%: $10,000 payment → $2,400

IRC 3406 backup withholding is 24% of a reportable payment when the payee has no TIN or IRS notice.

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Results

Backup withholding (24%)

$2,400.00

Net to payee

$7,600.00

IRC 3406 rate is 24%. Does not decide whether backup withholding applies. Educational estimate, not tax advice.

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Backup withholding

IRC 3406 backup withholding is 24% of a reportable payment.

Withholding

Withheld = payment × 24%

Example: $10,000 → $2,400 withheld, $7,600 net.

Related: paycheck take-home, federal withholding.