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W-9s for third-party payments
January 26, 2023
Q. Are W-9s required for third party payments, i.e., credit card or purchase card payments?
A.
(Answered by Debra Richardson, a third-party Vendor Master File Advisor: https://www.debrarrichardson.com).
Whether you need to collect a W-9 for vendors who will be paid by a credit card (P-Card/Virtual Card, etc) is a valid question since the card issuer (vs. the buyer) is responsible for issuing 1099s for those payments. I would say that it depends on how the credit card payments are issued:
If…
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