I'd like to know how things would work in practical terms. Let's suppose I've taken out a loan in the United States and I'm making interest payments. Would I be responsible for filing a return in which I would withhold an amount? For example, if the interest amounted to $1,000 a month, I would withhold part of that amount and remit it to the Department of Revenue?
On December 6th, 2007. See this statement in context.