Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 10-14-2013, 01:57 PM
Junior Member
 
Join Date: Oct 2013
Posts: 1
S-Corp gives Soc#, not EIN number on W-9

Hello,

We just hired a subcontractor and received their W-9. The information on the W-9 gave me the Name, Business Name (which is LLC), they checked that they are an "S" corp but only gave us their social security number (no EIN is entered). Do we 1099 them?

Thank you for any info you can provide.



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 10-15-2013, 09:38 AM
Moderator
 
Join Date: Oct 2010
Posts: 5,233
Quote:
Originally Posted by across333 View Post
Hello,

We just hired a subcontractor and received their W-9. The information on the W-9 gave me the Name, Business Name (which is LLC), they checked that they are an "S" corp but only gave us their social security number (no EIN is entered). Do we 1099 them?
I guess your sub-contractor might be a LLC treated as an S corp for tax purposes. As long as this is ture, then, you do not need to 1099 them. You can check it with the subcontractor.1099s are usually issued to individuals, not to businesses such as an S-Corp/ C-Corp. As you said, as long as your EE, the subcontractor, is an S corp , NOT SMLLC,(disregarded entity)/sole proprietor, you do not 1099them.So, in addition, firms that hire LLCs and pay them more than $600 per year must file Form 1099-MISC with the IRS to report the amount of the payment. (This requirement doesn't apply if the LLC has opted to be taxed as a S or C-corp.)



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
Question about number of withholding ricababy Estimated Taxes 1 07-10-2013 05:45 AM
Do I have to use my Social Security Number when I e-file my business tax extension, or will I use my Tax-ID (EIN) number? angelaashworth For 2013 1 05-22-2013 10:25 PM
What is FBAR and what is the Reporting Form Number? TaxGuru Filing Requirements 0 08-15-2011 11:32 PM
withholding number anguished Estimated Taxes 4 07-15-2010 09:14 AM

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