Code Section 6331
| Code Section | Effective Date | Name of Act | Name of Provision | 10yr Revenue Estimate ($millions) |
|---|---|---|---|---|
| 6331(h)(3) | 11/21/2011 | Three Percent Withholding Repeal and Job Creation Act of 2011 | One Hundred-Percent Levy for Payments to Federal Vendors Relating to Property | 135 |
One Hundred-Percent Levy for Payments to Federal Vendors Relating to Property
Explanation of Provision
The provision clarifies that Treasury can levy up to 100 percent of any payment due to a Federal vendor for the sale or lease of property, in addition to the sale or lease of goods or services.
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