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Employee paying a vendor after getting a W-9 form

Always get a W-9 before paying your vendors!

Getting a W-9 form before you make the first payment to a new vendor or independent contractor is critical and will save tremendous time at year-end and reduce potential IRS penalties.   A W-9 form provides you with the vendor’s legal name, TIN number, tax classification, address, and exemption/FATCA status.   This information is then used to process a 1099 form at year-end if required.   Getting W-9s upfront will help you avoid many headaches and streamline your year-end W-9/1099 process. Avoid backup withholding  –

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