[Code of Federal Regulations]
[Title 26, Volume 15]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR31.3406(b)(3)-3]

[Page 272]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 31_EMPLOYMENT TAXES AND COLLECTION OF INCOME TAX AT SOURCE--Table of Contents
 
              Subpart E_Collection of Income Tax at Source
 
Sec. 31.3406(b)(3)-3  Reportable payments by certain fishing boat operators.

    (a) Payments subject to backup withholding. A payment of a kind, and 
to a payee, that is required to be reported under section 6050A 
(relating to information reporting by certain fishing boat operators) is 
a reportable payment for purposes of section 3406. See Sec. 31.6051-4 
for the requirement to furnish a statement to the payee if tax is 
withheld under section 3406.
    (b) Amount subject to backup withholding. The amount described in 
paragraph (a) of this section subject to withholding under section 3406 
is the amount subject to reporting under section 6050A, but only to the 
extent the amount is paid in money and represents a share of the 
proceeds of the catch.

[T.D. 8637, 60 FR 66119, Dec. 21, 1995]