W-9 Best Practices
Date: Friday, August 1, 2025
Instructor: Steven D. Mercatante
| Begin Time: |
11:00am Pacific Time
12:00pm Mountain Time
1:00pm Central Time
2:00pm Eastern Time |
| CPE Credit: |
2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC |
|
NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN card
If you are validating 1099 reportable payments and payees, you supervise 1099 compliance and want to streamline your W-9 due diligence procedures prior to 1099 filing, or if you are a CPA and would benefit from assistance validating Forms W-9 prior to filing.
Who Should Attend
If you are validating 1099 reportable payments and payees, you supervise 1099 compliance and want to streamline your W-9 due diligence procedures prior to 1099 filing, or if you are a CPA and would benefit from assistance validating Forms W-9 prior to filing.
Topics Covered
- Filing Dates
- Increased Penalties
- WHO should receive a W-9
- WHO is responsible for the accuracy of W-9 information
- WHAT does "disregarded entity" mean
- WHAT is the importance of "tax classification"
- WHEN are W-9s due to Payees
- WHEN should W-9s be rejected & re-sent to Payees
- HOW can I avoid name & TIN mismatch problems that lead to backup withholding and B-Notices
- Verify TIN, EIN, SSN with IRS e-services
- Verify the correctness of W-9 information
- When to backup withhold and how
- Tips on avoiding IRS penalties and handling IRS B-Notices
Learning Objectives
- Identify processes for dealing with recent IRS changes to the Form W-9 and a discussion of the new Form 1099-NEC vs. the revamped 1099-MISC
- Recognize and apply policies for validating IRS Form W-9 and get record retention tips
- Identify strategies for dealing with Form W-9s when multiple names are provided, handling changes in payee information, validating exempt organization payees, and validating your W-9s using the IRS TIN Match Program
- Describe practices to capture key W-9 data points for use in subsequent 1099 reporting
- Recognize how to develop strategies for leveraging the W-9 in B-Notice situations
- Recognize how to pinpoint steps that should be taken to handle W-9s from problematic payees such as sole proprietors, single member LLCs, partnerships, LLCs owned by other entities, and corporations
- Identify backup withholding tips to make your job easier, including a detailed discussion of the Form 1099-NEC and 1099-MISC versus usage of Form 945
Level
Basic
Instructional Method
Group: Internet-based
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
None
Advance Preparation
None
