Well, we too hadn't heard of anything really new or complicated. But, our mortg. dept. received information yesterday regarding an upcoming webinar that caused them to ask me the question. The ad for the webinar says:
Are you compliant with the new rules and regulations surrounding Form W-9?
Do you have a W-9 on file for all of your vendors?
Using Form W-9:
Compliance Guidelines for TIN Reporting
Course Description: Form W-9, "Request for Taxpayer Identification Number and Certification," was recently updated by the IRS, with new specifications for LLC payees. Find out how to ensure your organization is in compliance in this need-to-know audio conference.
In just 75 minutes, you'll find out:
What name information you need from the payee in order to report payments appropriately
Why there might be a difference between a payee's name and its business name, and why the IRS distinguishes between the two
What information you need from your LLC payees
Why you should presume that your LLC payees are not corporations
What is a disregarded entity
Who receives a Form 1099 when dealing with a disregarded entity
How to identify confusing information provided by your payees, what they may be trying to tell you, and what additional questions you should ask of them
When the form must be signed under penalties of perjury
Plus, you'll get the answers to your specific W-9 questions in the interactive Q&A session following the presentation.
To me, this didn't seem worth the high cost, but I wanted to make sure I wasn't missing something. Thank you!
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