What’s New
- Filing Dates
- Increased Penalties
Questions Answered:
- WHO should receive a W-9
- WHO is responsible for the accuracy of W-9 information
- WHAT does “disregarded entity” mean
- WHAT is the importance of “tax classification”
- WHEN are W-9’s due to Payees
- WHEN should W-9’s be rejected & re-sent to Payees
- HOW can I avoid name & TIN mismatch problems
Time-Saving Tips:
- Advantages of IRS e-services
- Verify TIN, EIN, SSN with IRS e-services
- Train staff to verify the correctness of W-9 information
- Train staff when to backup withholding
- Most common mistakes on 1099’s
- Tips on avoiding IRS penalties
- Importance of Procedural Manual & staff training
Learning Objectives:
- WHO should receive a W-9
- Verify TIN, EIN, SSN with IRS e-services
- Most common mistakes on 1099’s