Can You Pay a Vendor Without a W9?

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Can you pay a vendor without a W9?
If you don’t have a W-9 Form for someone you have paid, you must request one. Most vendors willingly provide it. Some vendors have an Employer Identification Number (EIN) or use their personal Social Security Number for income purposes. Either number is acceptable.
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It’s typical for business owners to employ vendors or independent contractors to deliver services or goods. You might need to fill out a W-9 form for tax purposes when you pay them. What occurs, though, if your supplier or contractor declines to give you a W-9 form? Are you still able to pay them?

The short answer is that even if a vendor or contractor doesn’t give a W-9 form, you can still pay them. There are some hazards associated with doing this, though.

First off, you won’t have the vendor’s tax identification number (TIN) without a W-9 form. As a result, you won’t be able to tell the IRS about the payments you made to the vendor. If you are subject to an audit, this could lead to penalties and fines.

Second, the absence of a W-9 document from the seller may indicate that they are an unreliable company. This may be a warning sign of impending fraud or frauds.

So, even if it’s possible to pay a vendor without a W-9 form, it’s not advised. Instead, before sending any money to your vendor or contractor, you should try your best to get a W-9 form from them filled out.

Exists a W9 Form for 2022?

Yes, on November 2, 2021, the IRS released the W-9 form for 2022. The form is used to ask non-employee vendors or contractors for their TIN. The 2022 W-9 form is available for download through your tax software vendor or the IRS website.

How many years is a W-9 valid?

An expiration date is not present on a W-9 form. You can use a W-9 form that has been successfully completed by a vendor or contractor for any ensuing payments to that party.

How Should a W-9 for an LLC Be Completed?

If you work as a vendor or contractor for an LLC, you must fill out the W-9 form with the TIN of the LLC. The employment identification number (EIN) granted by the IRS or the owner’s social security number might serve as an LLC’s TIN. It is advised to utilize the LLC’s EIN rather than the owner’s social security number if the LLC has one.

Do W-9 Forms Need to Be Signed, Also?

Yes, the vendor or contractor must sign the W-9 form. The accuracy of the data on the form is attested to by the signature. You are not necessary to sign the form if you are the payer.