468
INTERNAL REVENUE CODE OF 1954 year, which shall in no event exceed the number to which he will be, or may reasonably be expected to be, so entitled. (3) W H E N CERTIFICATE TAKES EFFECT.— (A) F I R S T CERTIFICATE FURNISHED.—A withholding exemption
.:
certificate furnished the employer in cases in which no previous such certificate is in effect shall take effect as of the beginning of the first payroll period ending, or the first payment of wages made without regard to a payroll period, on or after the date on which such certificate is so furnished. (B) FURNISHED TO TAKE PLACE O P EXISTING CERTIFICATE.—A
withholding exemption certificate furnished the employer in cases in which a previous such certificate is in effect shall take effect with respect to the first payment of wages made on or after the first status determination date which occurs a t least 30 days from the date on which such certificate is so furnished, except that a t
- ,; the election of the employer such certificate may be made effec!jj tive with respect to any payment of wages made on or after the
. ( date on which such certificate is so furnished; b u t a certificate furnished pursuant to p a r a ^ a p h (2)(C) shall not take effect, and may not be made effective, with respect to any payment of wages made in the calendar year in which the certificate is furnished. For purposes of this subparagraph the term "status determination date" means January 1 and July 1 of each year. (4) P E R I O D DURING WHICH CERTIFICATE REMAINS I N EFFECT.—•
A withholding exemption certificate which takes effect under this subsection, or which on December 31, 1954, was in effect under the corresponding subsection of prior law, shall continue in effect with respect to the employer until another such certificate takes effect under this subsection. (5) FORM AND CONTENTS OF CERTIFICATE.—Withholding exemption certificates shall be in such form and contain such information as the Secretary or his delegate may by regulations prescribe. (g) OVERLAPPING P A Y PERIODS,
AND PAYMENT BY A G E N T OR
FIDUCIARY.—If a payment of wages is made to an employee by an employer— (1) with respect to a payroll period or other period, any part of which is included in a payroll period or other period with respect to which wages are also paid to such employee by such employer, or (2) without regard to any payroll period or other period, b u t on or prior to the expiration of a payroll period or other period with respect to which wages are also paid to such employee by such employer, or (3) with respect to a period beginning in one and ending in another calendar year, or (4) through an agent, fiduciary, or other person who also has the control, receipt, custody, or disposal of, or pays, the wages payable by another employer to such employee, the manner of withholding and the amount to be deducted and withheld under this chapter shall be determined in accordance with regulations prescribed by the Secretary or his delegate under which the withholding exemption allowed to the employee in any calendar year shall approximate the withholding exemption allowable with respect to an annual payroll period. §3402 (f)(2)(C)
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