§ 31. Tax withheld on wages
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(a)Wage withholding for income tax purposes
(1)In general The amount withheld as tax under chapter 24 shall be allowed to the recipient of the income as a credit against the tax imposed by this subtitle.
(2)Year of credit The amount so withheld during any calendar year shall be allowed as a credit for the taxable year beginning in such calendar year. If more than one taxable year begins in a calendar year, such amount shall be allowed as a credit for the last taxable year so beginning.
(b)Credit for special refunds of social security tax
(1)In general The Secretary may prescribe regulations providing for the crediting against the tax imposed by this subtitle of the amount determined by the taxpayer or the Secretary to be allowable under section 6413(c) as a special refund of tax imposed on wages. The amount allowed as a credit under such regulations shall, for purposes of this subtitle, be considered an amount withheld at source as tax under section 3402.
(2)Year of credit Any amount to which paragraph
(1)applies shall be allowed as a credit for the taxable year beginning in the calendar year during which the wages were received. If more than one taxable year begins in the calendar year, such amount shall be allowed as a credit for the last taxable year so beginning.
(c)Special rule for backup withholding Any credit allowed by subsection
(a)for any amount withheld under section 3406 shall be allowed for the taxable year of the recipient of the income in which the income is received.
(Aug. 16, 1954, ch. 736, 68A Stat. 12; Pub. L. 94–455, title XIX, § 1906(b)(13)(D), Oct. 4, 1976, 90 Stat. 1834; Pub. L. 97–248, title III, §§ 302(a), 308(a), Sept. 3, 1982, 96 Stat. 585, 591; Pub. L. 97–354, § 3(i)(4), Oct. 19, 1982, 96 Stat. 1691; Pub. L. 97–448, title III, § 306(b)(1), Jan. 12, 1983, 96 Stat. 2405; Pub. L. 98–67, title I, §§ 102(a), 104(d)(2), Aug. 5, 1983, 97 Stat. 369, 379; Pub. L. 98–369, div. A, title IV, § 471(c), title VII, § 714(j)(2), July 18, 1984, 98 Stat. 826, 962.)
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Cited by 124 sections · top 60
U.S. Code
- § 501Exemption from tax on corporations, certain trusts, etc.
- § 401Qualified pension, profit-sharing, and stock bonus plans
- § 48Energy credit
- § 72Annuities; certain proceeds of endowment and life insurance contracts
- § 414Definitions and special rules
- § 7701Definitions
- § 6011General requirement of return, statement, or list
- § 408Individual retirement accounts
- § 46Amount of credit
- § 165Losses
- § 51Amount of credit
- § 404Deduction for contributions of an employer to an employees’ trust or annuity plan and compensation under a deferred-payment plan
- § 6501Limitations on assessment and collection
- § 3402Income tax collected at source
- § 101Certain death benefits
- § 415Limitations on benefits and contribution under qualified plans
- § 6331Levy and distraint
- § 219Retirement savings
- § 6652Failure to file certain information returns, registration statements, etc.
- § 6511Limitations on credit or refund
- § 6601Interest on underpayment, nonpayment, or extensions of time for payment, of tax
- § 6654Failure by individual to pay estimated income tax
- § 954Foreign base company income
- § 901Taxes of foreign countries and of possessions of United States
- § 338Certain stock purchases treated as asset acquisitions
- § 301Distributions of property
- § 6045Returns of brokers
- § 213Medical, dental, etc., expenses
- § 263Capital expenditures
- § 312Effect on earnings and profits
- § 318Constructive ownership of stock
- § 6049Returns regarding payments of interest
- § 7609Special procedures for third-party summonses
- § 6611Interest on overpayments
- § 6411Tentative carryback and refund adjustments
- § 302Distributions in redemption of stock
- § 7431Civil damages for unauthorized inspection or disclosure of returns and return information
- § 3406Backup withholding
- § 1250Gain from dispositions of certain depreciable realty
- § 311Taxability of corporation on distribution
- § 5761Civil penalties
- § 416Special rules for top-heavy plans
- § 3405Special rules for pensions, annuities, and certain other deferred income
- § 7422Civil actions for refund
- § 7430Awarding of costs and certain fees
- § 304Redemption through use of related corporations
- § 543Personal holding company income
- § 6042Returns regarding payments of dividends and corporate earnings and profits
- § 6653Failure to pay stamp tax
- § 5684Penalties relating to the payment and collection of liquor taxes
- § 6044Returns regarding payments of patronage dividends
- § 6405Reports of refunds and credits
- § 7205Fraudulent withholding exemption certificate or failure to supply information
- § 6679Failure to file returns, etc., with respect to foreign corporations or foreign partnerships
- § 291Special rules relating to corporate preference items
- § 6682False information with respect to withholding
- § 306Dispositions of certain stock
statutes-at-large
30 references not yet in our index
- Aug. 16, 1954, ch. 736
- 68A Stat. 12
- Pub. L. 94–455, title XIX, § 1906(b)(13)(D)
- 90 Stat. 1834
- Pub. L. 97–248, title III
- 96 Stat. 585
- Pub. L. 97–354, § 3(i)(4)
- 96 Stat. 1691
- Pub. L. 97–448, title III, § 306(b)(1)
- 96 Stat. 2405
- Pub. L. 98–67, title I
- 97 Stat. 369
- Pub. L. 98–369, div. A, title IV, § 471(c)
- 98 Stat. 826
- Pub. L. 98–369, § 714(j)(2)
- Pub. L. 98–67
- Pub. L. 97–248
- Pub. L. 97–448
- Pub. L. 97–354
- Pub. L. 94–455
- Pub. L. 98–369, div. A, title VII, § 715
- 98 Stat. 966
- Pub. L. 98–369
- Pub. L. 98–67, title I, § 110
- 97 Stat. 384
- section 3451 of this title
- Pub. L. 97–448, title III, § 311(d)
- 96 Stat. 2412
- Pub. L. 98–369, div. A, title VII, § 701
- 98 Stat. 942
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§ 31
Tax withheld on wages
U.S.C.×69
Stat.×54
Fed. Reg.×1
ActAug. 16, 1954, ch. 736
Stat.68A Stat. 12
Pub. L.Pub. L. 94–455, title XIX, § 1906(b)(13)(D)
Stat.90 Stat. 1834
Pub. L.Pub. L. 97–248, title III
Cites 30 · showing 5Cited by 124 across 3 sources