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Fullerton California online IRS W-9 2022: What You Should Know
Filing Requirements for W-9(SUBPOENAS), 10/07/2018 I am considering a sale with a vendor. If so, is it necessary to file a W-9(s) tax return form? “If you sell goods that have a value of over 1,000 and the vendor is a foreign person, you will need to file a Form 1099-G,” said Jason P. McPherson, Esq., a senior counsel with Covington & Burning and a specialist in tax preparer's and auditors' books, accounting and tax services. “A W-9 is not needed, and you do not need to file one unless a foreign person is acting as an agent for another foreign person,” Mr. McPherson told Tax Analysts. “If you are a domestic person and the goods are worth 1,000 or less and the vendor is a foreign person, filing and paying a W-9(s) will not generally be necessary. If you are a domestic person (like you are a domestic vendor using the W-9 form) and the goods are worth more than 1,000, you will need to file a Form 1099-G unless the vendor is a foreign person. This form will show the amount of tax that the vendor must pay to the IRS on the amount of the sales and must be filed within 3 years of date of sale.” Form, W-9, Certificate of Service — IRS Form W-9, Certificate of Service, 10/01/2018. If you were hired to do work for a foreign company, do you have to provide a W-9 for income tax purposes? “In most situations, yes,” Mr. McPherson said. “Most professional service agreements require the use of the Foreign Transaction Report (FOR) or the Form W-9 for income tax purposes. The foreign person's company will use these forms in addition to a Form 1099-MISC for foreign transaction and payroll tax reporting purposes. Your W-9 may not be useful to the company and if not filled out, the company will probably not have to fill it out. The law requires the reporting entity to fill out your W-9, but that will not affect them in any way. A form will serve to confirm that you have not violated a confidentiality agreement or to establish that you will properly fill out Form W-9.
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