Can a client ask for a W9?

You do not need to complete a new W-9 for every client. Just keep a copy of the completed form on hand, and it will be ready to go in seconds if a new client asks for one. If you’ll be working with several clients, it’s likely that each one of them will request a W9.

Why would a customer ask for a W9?

Why is my customer asking for a W-9 form? Companies that make payments in the normal course of their business are required to report certain payments to both the IRS and to the person or entity paid at the end of each calendar year. This is typically done using Form 1099.

What is the purpose of a W9?

Use Form W-9 to provide your correct Taxpayer Identification Number (TIN) to the person who is required to file an information return with the IRS to report, for example: Income paid to you. Real estate transactions. Mortgage interest you paid.

When should you request a W9?

In general, W-9s are required only for business-to-business relationships where more than $600 is paid in the calendar year. The $600 rule applies to labor and services. For direct sales, a W-9 is required for total purchases over $5,000.

Who requests a W9 form?

W-9 forms are for independent contractors, also called freelancers. It’s important to fill out the form correctly—but only if you’re sure it’s the right form to submit and the request is legit.

What if someone refuses to give me a W9?

If you have requested a Form W-9 from a vendor or subcontractor, and that person has failed to provide it, the IRS requires that you immediately begin backup withholdings of 24\% and that you report those withholdings on Form 945. You should continue backup withholdings until you are provided with a TIN.

Is a W9 form mandatory?

A W-9 form is not required for all business transactions. In general, W-9s are required only for business-to-business relationships where more than $600 is paid in the calendar year. The $600 rule applies to labor and services. For direct sales, a W-9 is required for total purchases over $5,000.

Who needs a W9?

What to do if a vendor refuses to provide a W9?

How do I submit a W-9 to the IRS?

Submit a W-9 tax form online. Fill out, e-sign and submit your W-9 form to the IRS. Share or download the file on any device. Do you need the actual W-9 or only their EIN?

How do I get my W-9 back?

The W-9 request is sent to you by a company’s accounts payable department. If you call them and say “I don’t have to send you a W-9”, they will likely tell you they will have to withhold 30\% of your fee on account of tax. To get it back, you’d have to file a US return.

Who is responsible for getting a W9 from Facebook?

It would probably be someone in accounts receivable. Also, in case they don’t want to give you one, I can assure you that Facebook is a corporation, so you are not required to have a W9 from them.

How do you respond when you don’t know all the answers?

One can never have all the answers. In this situation point is to provide customer service. Admitting you don’t have an answer and providing timeline when you will get back to him/her with the answer would be the best approach in my opinion. Don’t ever give wrong answer. It is not the end of the world if you don’t know all answers.