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ABATE of Florida, Inc Ester River Journal Volume 10June 2012Issue 06PLEASE The Readiest State Meeting Hosted by Lake County Chapter June 9, 2012CHAPTER MEETING June17, 2012 WE Won't Foretaste in the New Board this month! American
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Wont stands for Withholding on Nonresident Transactions.
Any individual or entity who makes payments to nonresidents of the country.
Wont can be filled out electronically or manually, providing information about the nonresident payees and the payments made to them.
The purpose of wont is to ensure that nonresident individuals or entities pay the correct amount of taxes on income earned within the country.
Information such as the name and address of the nonresident payee, the amount of income paid to them, and any applicable tax withholding.
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