Please note, that it’s the client’s responsibility as the taxpayer to obtain W-9s from all vendors that provide services to recipients. This includes outside services, independent contractors, sub-contractors, commissions, repairs and maintenance, legal services, and rent, amongst other payments. It is imperative that clients provide us with this information before the end of each calendar year.
When we identify such payments, we do our best to notify you and make a request to provide us with this W-9 information so we can determine if a 1099 needs to be issued at year end. Without this information we cannot issue a 1099 and ultimately you are responsible for the associated penalties ranging in $50 – $500 per 1099 that is not filed timely by January 31, 2023.
For 2022, we will not be sending out additional reminders and follow-up emails to obtain this information. We are reminding you of your responsibility to provide us with this pertinent tax information before the filing deadline of January 31, 2023.
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