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Today's video focuses on code 806, which is related to withholding on W-2 and 1099 forms. The code is less commonly found on 1099 forms, as federal withholding is not typical. The IRS calculates the total withholding amount from box number two on your W-2 forms and any 1099s submitted. This total sum includes withholding from multiple jobs, providing a comprehensive view of your tax withholding.