All of this information is required in order to complete required information returns such as Form 1099-MISC. This form asks for the companies’ legal business name, organization type and Tax ID. It is a best practice to ALWAYS request a Form W-9 from every vendor you work with.To ensure that you have all the information you need to fulfill the 1099 preparation and filing requirements by January 31 each year, we recommend the following: When should our company request completed W-9s from vendors?
Why is someone requesting a completed W-9?.When should our company request completed W-9s from vendors?.The most common questions we get about W-9s include: Purpose of Form W-9Īn individual or entity (Form W-9 requester) who is required to file an information return (Forms 1099) with the Internal Revenue Service (IRS) must obtain your correct taxpayer identification number (TIN) which may be your Social Security Number (SSN), individual taxpayer identification number (ITIN), adoption taxpayer identification number (ATIN) or employer identification number (EIN), to report on an information return the amount paid to you, or other amount reportable on an information return. As Part I of our 2019 Forms W-MISC Series, this article explains the purpose of Form W-9.
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