Reviewing and Understanding the IRS Form W-9 | Product

IRS Form W-9 is the primary form used to solicit payee information your organization needs for Form 1099 tax information reporting compliance.  An informed review of each W-9 when it’s received will enable you to correctly set up 1099 reportable payees in your system, and implementation of related procedures based on IRS regulations will protect your organization against penalty assessments.  Join us to learn about Form W-9 updates, regulatory requirements and best practices, including:

• IRS revisions to Form W-9
• Taxpayer ID Number solicitation rules
• Payees that don’t follow the W-9 form instructions (analysis of multiple names, disregarded entities, multiple TINs, LLCs, sole proprietors, payees that check “Other”)
• How to identify and categorize exempt recipients that aren’t 1099 reportable 
• Rules for signatures and methods of receiving Forms W-9 
• Situations that require you to withhold federal income tax from payments 

Learning Objectives:

• Correctly solicit IRS Form W-9 from payees 
• Review Forms W-9 for required information or indications of unreliability