backup withholding rules

What Is Back Up With Holding

What is back up with holding?

When two or more people are in a business partnership, one option for dividing up the responsibilities is called “back up with holding.” This term refers to the process of one partner fulfilling their role until the other partner is able to take over again. In most cases, this process is used when one partner is unavailable due to illness, travel, or other reasons.

There are a few things to keep in mind when …