Changes in the latest W-9 filling procedure in 2020
This year the USA government has already taken the decision to extend the tax season due to the COVID-19 pandemic. Notwithstanding these circumstances, any financial institution should report to the IRS about all the contractor payments exceeding 600$. The submitter can complete and send the current W-9 fillable document electronically or in the paper format.
Where to Get It?
This 1-page paper is provided on demand. You can get it from:
- your client;
- bank;
- other financial institutions.
Besides, you can download W-9 free printable form 2020 from the IRS website or on our homepage. Never send W-9, if you get it from someone you don’t know.
What Does the Latest W-9 Look Like?
Make sure you have the updated version. The following details are normally included:
Full
Name |
Business Name | Contact Info | Business Contact Info | SSN |
EIN
|
|
Sole Proprietor | + | + | + | |||
Partnership | + | + | + | |||
C Corporation | + | + | + | |||
S Corporation | + | + | + | |||
Trust/Estate | + | + | + | |||
LLC | + | + | + |
If you have any questions, don’t hesitate to ask the business or an individual who requested it from you. Remember: if you provide the wrong information, you may be subject to a $50 penalty.
New Deadlines
The tax filing deadlines are automatically extended to July 15, 2020. The tax payer won’t be charged any interest during the extension period. However, the state authorities may notify both parties of the transaction about the changes in the paperwork completion.