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Should I Include My Middle Initial on W9 Form? Rtaxhelp 2022

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all right so in this video i want to talk about why it's important that a u.s company should always collect a form w-9 before they make payment to a vendor or a contractor right this is very very important because you as the u.s company may be obligated to report those payments to the irs on a form 1099 and then the the payee gets a copy as well and additionally you might also be required to withhold taxes on the payments to those persons or that company so a u s company that makes payments in the ordinary course of its trade or business might be required to report these payments on 1099s which requires the w-9 because you need to collect the recipient's name address and u.s taxpayer id number these are all fields that are reported on 1099 and you need all of these elements in order to get the 1099s filed with the irs and have them accepted now payments are only reported if they're made in the course of a trade or business so personal payments are not reported s

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