Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 03-07-2016, 12:34 PM
Junior Member
 
Join Date: Mar 2016
Posts: 1
A really late request for a W9

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.

Am I required to send her a w9 this late?



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #2 (permalink)  
Old 03-07-2016, 05:43 PM
Moderator
 
Join Date: Oct 2010
Posts: 5,233
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.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #3 (permalink)  
Old 03-07-2016, 05:50 PM
Moderator
 
Join Date: Oct 2010
Posts: 5,233
sorry for typo not 1040x but form 4868



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Request for a 409A Report AMO Bulldog Income 2 01-30-2015 12:01 PM
Request An Installment Plan angelaashworth For 2013 2 05-29-2013 07:09 AM
What arguments can be put forward to waive the Late Filing penalty for a Multi Member LLC tax return that was filed 10 months late? PeterAccountant CPA Forums 1 02-08-2012 07:54 PM
Under what circumstances will the IRS abate Late filing penalties for a Late Filed Partnership Tax Return? TaxGuru Limited Liability Company 0 11-16-2011 11:08 AM
Can I avoid late filing penalties if my 2006 partnership tax return is filed late? Redden Limited Liability Company 0 09-29-2008 07:58 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning