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Marty earned $5,000 in interest income from the Honey Springs Bank. She failed to notify the bank that she was not subject to backup withholding.
Marty earned $5,000 in interest income from the Honey Springs Bank. She failed to notify the bank that she was not subject to backup withholding.
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a.) if Marty's taxable income puts her in the 25% bracket how much would Honey Springs Bank with holes on the 5,000 of Interest earnings?
b.) if Marty's taxable income puts her in the 15% bracket how much would Honey Springs Bank with hold on the 5,000 of Interest earnings?
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