I'm a graphic design, a sole proprietor. I did some work for a client last February (2015). Just this week I got a request from her for a w9, her accountant asked for it while filing her taxes.
But now that the 1099 January deadline has passed, and I won't be getting a 1099 from her, it makes me a little nervous to send her a w9 now. Because I won't be able to see the amount she is reporting. And she is kind of scatterbrained, so I don't necessarily trust her to report the accurate amount. I know if what she and I report differ, that's a red flag.============>>>>> Well even ifyou had not received a 1099 at all, you are STILL liable and responsible to include all of your income, so you were to include this amount in your tax filings even if you never got the 1099 at all. You may File on or before April 15, 2010.you may even file 1040X to extend your return.
Am I required to send her a w9 this late?=========>>>you can send the form w9 to her ASAP so that she can send you 1 1099 even if it is late; she needs it to report her info return and file her return to report the expense on 1099 to claim it on her return. you also still have time to file your return on your 1099 income with IRS/your state. Also she must give you accurate amt on the 1099. You as a contractor receiving a 1099 don?t usually have anything withheld on your check, like employees do. However, if you refuse to give your tax ID on W9 then she paying you is required to withhold taxes aka backup withholding from your 1099 incoem at 28% I guess. The IRS requires businesses and financial institutions to withhold 28% of the types of income mentioned above as backup withholding wh when:"You do not give the payer your W9 with SSN or your EIN in the required manner.