W-9 Best Practices (Completed)

Date: Friday, December 13, 2019
Instructor: Steven D. Mercatante
Begin Time:  12:00pm Pacific Time
1:00pm Mountain Time
2:00pm Central Time
3:00pm Eastern Time
CPE Credit:  2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC

The seemingly never-ending and complicated changes to the W-9 require you to stay diligent. W-9 validation issues should be your top priority and there is no better way than this webinar to stay up to date on the issues, exercise best practices, practice due diligence, and avoid costly mistakes.

Topics Covered

  • 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-9's due to Payees
  • WHEN should W-9's be rejected & re-sent to Payees
  • HOW can I avoid name & TIN mismatch problems
  • Advantages of IRS e-services
  • Verify TIN, EIN, SSN with IRS e-services
  • Train staff to verify the correctness of W-9 information
  • Train staff when to backup withholding
  • Most common mistakes on 1099's
  • Tips on avoiding IRS penalties

Learning Objectives

  • Describe the basics of W-9 validation
  • Identify the latest strategies for collecting, validating, and meeting IRS compliance requirements beginning with the name/TIN solicitation process, the Form W-9, and tips on using the IRS TIN match program to ensure correct filings
  • Recognize and apply best practices for backup withholding (including rules and determining your deposit schedule), procedures that help you avoid fines
  • Identify document validation do's and don'ts: including tips on validating Form W-9's when multiple names are provided, handling undocumented payees, service payments that require the reporting of a related good, and validating exempt organization payees
  • Recognize how to document & validate sole proprietors, disregarded entities, single member LLC's, partnerships, LLC's owned by other entities, S-Corps, and organizations that incorporate mid-year
  • Describe how to break down difficult payee and payment situations


Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites

Advance Preparation

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