A contractor received a levy on income paid to a subcontractor. The sub is a painter and is paid on a per job basis, so payments are sporadic. Would the monthly exemption apply, therefore, any amount above the monthly exemption amount would be sent to the IRS?
For some reason I have 28% paid to subs stuck in my head, not sure if I read this or thought I heard it at a seminar?
Edit: After further research I think an error made by IRS in that a Form 668-A should have been issued and not Form 668-W(c). This is something I have not dealt with before and it is indeed confusing at first. Any thoughts from those of you that are familiar with this process?
For some reason I have 28% paid to subs stuck in my head, not sure if I read this or thought I heard it at a seminar?
Edit: After further research I think an error made by IRS in that a Form 668-A should have been issued and not Form 668-W(c). This is something I have not dealt with before and it is indeed confusing at first. Any thoughts from those of you that are familiar with this process?
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