Form W-9: Payee Identification and Tax Determination

Learn how to handle W-9s, W-8s, and IRS rules with confidence—and avoid costly mistakes

no. FW9
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1-Hour Webinar

Credits - CEU: 0.1

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Form W-9: Payee Identification and Tax Determination image number 0
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Getting the information you need from payees can be difficult, even when you know exactly what you’re looking for. Those problems are compounded when the forms and rules are complicated, hard to understand, harder to follow and fraught with sometimes scary consequences. You may receive a B Notice, or discover one of your payees withheld the fact that he or she is not a U.S. citizen. Knowing the rules governing back-up withholding and the Form W-8 series can prepare you to handle these circumstances with confidence. Understanding the W9 information-gathering techniques the IRS regards as acceptable lets you know just how creative you can be in your approach without crossing the line. The more effective your information collection efforts are, the less likely it is that your company will be charged penalties and interest related to non-compliance.

Many companies cost themselves a lot of money by neglecting one of the simplest tasks the IRS asks them to perform. Fines and penalties for improper handling of processes surrounding the W-9, W-8 and associated reporting requirements may be as little as $50, but they can exceed 30% of total payment made to each payee. These simple, money-saving processes are neglected by accounting departments across the country. Take this one-hour webinar to avoid being one of them. 

  • How to identify W-9 payees
  • Common misconceptions about the W-9/1099 relationship to avoid
  • W-9 information collection options
  • How to understand the B Notice Process
  • Who should complete one of the W-8 series forms and why
  • Fulfill backup withholding responsibilities
  • The difference between a U.S. Resident and Non-Resident Alien
  • The appropriate payees to send Form 1042-S to
  • How to avoid penalties for late filing or non-compliance
  • What is Willful Neglect and what constitutes Reasonable Cause
  • Tips for collecting W-9 information from difficult payees
  • Benefits you will reap for having good W-9 procedures

Managers, payroll professionals, accounts payable professionals, HR professionals, supervisors — any other professionals who have any input in the hiring or selection of people.