Any accounting department must collect and validate the Form W-9 from entities that it has paid. In the Form W-9 Compliance course, we explore the requirements for this form, how to validate the information stated on it, when to initiate backup withholdings, how to deal with "B" Notices, and how best practices can be used to increase the efficiency of these activities.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Identify the field entry requirements for a Form W-9.
Specify the types of taxpayer identification numbers that can be included in a Form W-9.
State which types of entities should receive a Form 1099 from the payer.
Identify how to spot whether a payee is a foreign entity.
Specify the requirements for the development of a substitute Form W-9.
Major Topics
Form W-9 Compliance
Backup Withholding
Partner Rules
FATCA Reporting
Penalties
The "B" Notice
IRA TIN Matching Service
