January 2024 – Reminder – W-9

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REMINDER – FORM W-9

 

OVERVIEW

As we begin preparing and filing 1099s for 2023, we wanted to send a friendly reminder regarding the importance of collecting Forms W-9 from all non-employees/contractors who have provided services to your company.

Forms W-9 should be collected no later than the dates you pay the non-employees/contractors for their services.

 

SUMMARY

– Form W-9 is filled out by the non-employee/contractor at your request and then retained for your records.

– Having a Form W-9 from each non-employee/contractor on file streamlines the 1099 filing process in the following ways:

– Form W-9 will indicate if the vendor or contractor actually needs a 1099 issued to them. 4

– Form W-9 also includes the contractor’s name and business name, type of entity, and the business’ tax identification number, all of which are included and needed on Forms 1099.

– If we are preparing your 1099s, we will also request copies of all Forms W-9 on file to assist in determining which of the non-employee/contractors need 1099s issued to them.

 

Please feel free to reach out to us with any questions on Form W-9 or the 1099 process and we will be happy to assist you.