Description
Understand the basic format of how to complete the W9 form, create an account with the IRS, and submit a TIN match.
All companies that utilize contractors must report payments of more than 600 on Form 1099, NEC, MISC, or many other types of forms and many different types of payments. Sometimes the information gathered at the time of the payment is incorrect or incomplete this causes an issue with the IRS when trying to report income at the end of the year. By applying sound W9 solicitation protocols, you can eliminate most of the issues with missing information. Creating a policy with strict adherence will benefit both the company and the contractor so that you can keep everyone out of conflict with the IRS. The IRS has also provided a tool that can be used to help in TINName verification. By verifying the data provided by the contractors using the IRS database, you can catch and eliminate human errors such as transpositions. By the end of this course, you will understand the basic format of completing the W9 form, creating an account with the IRS, and submitting a TIN match. This course will cover what to do if you receive either a CP2100 form or a 972CG Notice from the IRS.
Date: 2022-11-02 Start Time: 1:00 PM ET End Time: 2:40 PM ET
Learning Objectives
* You will be able to explain the W9 process.
* You will be able to describe the TIN Matching process.
* You will be able to identify areas within your organization that require changes to establish a case for Reasonable Cause regarding TIN validation protocols.
* You will be able to discuss W9 solicitations and how to respond to a CP2100 form or 972CG notices from the IRS.