A notice sent by the IRS which identifies shareowners who, according to their files, have been under-reporting their income and in which the agent must withhold tax at the required rate (currently 31%). The withholding must continue until the agent receives a subsequent IRS notification stating the shareowner has now paid all of his/her back taxes.
« Back to Glossary Index
West Coast Stock Transfer, Inc.
Full service transfer agency registered with the U.S. Securities and Exchange Commission