IRS Form W-9: Understanding and Using the W-9 in the Form 1099 Compliance Process | Product

Learn the regulatory requirements for soliciting Form W-9 from payees; how to review a payee’s W-9 to correctly determine whether that payee is reportable on Form 1099 or is an exempt recipient; how to determine the correct name to pull from the W-9 and use as “Recipient” on the Form 1099; and whether the W-9 you’ve received contains elements that make it unreliable.  We’ll cover:

• Which payees are required to furnish Form W-9? 
• What makes a W-9 form acceptable and what indicates it’s unreliable?
• How long is a W-9 valid?
• How can you tell if a payee is exempt from being reported?
• What is an LLC, why are there variations in LLC status and what do they mean for Form 1099 reporting? 

Learning Objectives:

• Solicit IRS Form W-9 from payees according to IRS requirements
• Review Forms W-9 for required information or signs of unreliability