Do you fill out a W9?

"Joe Wright" wrote in message

> f wrote:
> > When is a W9 required? I am a member of an LLC that has a contract with
> > another corporation. The corporation has requested that the LLC submit a
W9
> > to them. This is for general contracting services and training classes
that
> > we develop and deliver.
> >
> > Is this required and are we subject to withholdings as part of the W9?
> >
> > TIA
> >
> > ---
> > Fred Parker
> > Lynn Consulting Group, L.L.C.
> > www.lynnconsultinggroup.com
> >
> The W9 simply tells them how to fill out the 1099 for the money they are
> paying you. The W9 doesn't cost you anything.
>
> --
> Joe Wright

The W9 is a form that you put your tax ID and address on. Anyone who hires
you can request them. There are no withholdings related to a W9.

What scares me sometimes is that alot of companies are pretty casual with
protecting the collection of W9s. Sometimes they just put them in a 3 ring
binder and put it on a shelf making it an easy target for identity theft.

-alan sung
Rapid Realm Technology, Inc.
Hopkinton, MA

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 >> Stay informed about: Do you fill out a W9? 

On Tue, 28 Mar 2006 16:33:05 -0500, Joe Wright
wrote in
:

>f wrote:
>> When is a W9 required? I am a member of an LLC that has a contract with
>> another corporation. The corporation has requested that the LLC submit a W9
>> to them. This is for general contracting services and training classes that
>> we develop and deliver.
>>
>> Is this required and are we subject to withholdings as part of the W9?
>>
>The W9 simply tells them how to fill out the 1099 for the money they are
>paying you. The W9 doesn't cost you anything.

Note that you should put the name of your LLC and its TIN, not your
own name and SSN.
--
Charles Calvert
Moderator - alt.computer.consultants.moderated
Submission Address: accm RemoveThis @celticwolf.net
Contact Address: accm_mod RemoveThis @celticwolf.net
 >> Stay informed about: Do you fill out a W9? 

I challenged the corporation on why they wanted a W9 and they now don't need
it. Go figure.

---
Fred Parker
Lynn Consulting Group, L.L.C.
www.lynnconsultinggroup.com
 >> Stay informed about: Do you fill out a W9? 

f wrote:
> I challenged the corporation on why they wanted a W9 and they now don't need
> it. Go figure.
>
> ---
> Fred Parker
> Lynn Consulting Group, L.L.C.
> www.lynnconsultinggroup.com
>
The 'corporation' is required by the IRS to report payments to you of
more that $600 per year. That report is the 1099. You get a copy and so
does the IRS. The W9 is simply you helping the corporation fill in the
forms correctly. They don't 'need' it. They'll report to the IRS whether
they have your W9 info or not.

--
Joe Wright
"Everything should be made as simple as possible, but not simpler."
--- Albert Einstein ---
 >> Stay informed about: Do you fill out a W9? 

On Fri, 31 Mar 2006 21:28:20 -0500, Joe Wright
wrote in
:

>f wrote:
>> I challenged the corporation on why they wanted a W9 and they now don't need
>> it. Go figure.
>>
>The 'corporation' is required by the IRS to report payments to you of
>more that $600 per year.

Unless my memory fails me, that's only true if the payee is a sole
prop. Payments to coporations and partnerships are not covered under
that rule.

--
Charles Calvert
Moderator - alt.computer.consultants.moderated
Submission Address: accm.DeleteThis@celticwolf.net
Contact Address: accm_mod.DeleteThis@celticwolf.net
 >> Stay informed about: Do you fill out a W9? 

Hello Joe,

I know this is an old post - but I just found this forum and wanted to make
sure I clarified this information.

If a W9 is requested, it is usually for record keeping purposes. I request
a W9 on all projects I sub-contract folks on. The firm that placed you on
the engagement will be asked for the W9 if ever audited by the IRS.

I find it funny that the agencies caved. I guess that says something about
the operations of the firm...

Just an FYI - I hope that helps.

Kathryn Knox
Alicon Group, Inc.
www.alicongroup.com


"Joe Wright" wrote in message

> f wrote:
> > I challenged the corporation on why they wanted a W9 and they now don't
need
> > it. Go figure.
> >
> > ---
> > Fred Parker
> > Lynn Consulting Group, L.L.C.
> > www.lynnconsultinggroup.com
> >
> The 'corporation' is required by the IRS to report payments to you of
> more that $600 per year. That report is the 1099. You get a copy and so
> does the IRS. The W9 is simply you helping the corporation fill in the
> forms correctly. They don't 'need' it. They'll report to the IRS whether
> they have your W9 info or not.
>
> --
> Joe Wright
> "Everything should be made as simple as possible, but not simpler."
> --- Albert Einstein ---
>

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 >> Stay informed about: Do you fill out a W9?