Product: | PO - Purchasing |
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Meaning: | Withholding status used in process payments to 1099 vendors |
Description: | Withholding status used in process payments to 1099 vendors |
Code | Meaning | Description |
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EXEMPT | Exempt | Vendor is not subject to withholding |
INCORRECT TIN | Incorrect TIN | IRS informs of incorrect TIN. Begin withholding in 30 days, unless notified |
IRS WITHHOLD | IRS Withhold | IRS requests immediate withholding |
MISSING TIN | Missing TIN | Begin withholding immediately |
WAIT 60 DAYS | Wait 60 Days | Wait for 60 days for vendor to send TIN, then automatically begin withholding |
WAIT INDEFINITELY | Wait Indefinitely | Wait for TIN, but do not begin withholding |
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