The IRS has released final regulations under Section 3402(p) of the Internal Revenue Code relating to voluntary withholding agreements. The final regulations adopt without change the proposed regulations and the temporary regulations that permit the Secretary to describe other payments subject to voluntary withholding agreements in guidance published in the Internal Revenue Bulletin (IRB). Additionally, the final regulations provide that the IRB guidance will set forth requirements regarding the form and duration of the voluntary withholding agreement specific to the type of payment from which withholding is authorized. The final regulations are scheduled to be published in the Federal Register on September 16, 2014.
The final regulations can be accessed at TD 9692.