Accurate W-9 Processing: Vendor Set Up & Tax Classifications
Accurate vendor setup and maintenance starts with a clear understanding of IRS Form W-9, including when to accept it, and when to send it back for correction.
In our instructor-led, 75-minute program we’ll take an in-depth look at what information should be provided on the W-9, IRS tax classifications, and top mistakes vendors make.
Join us to discover:
- Examples of W-9s completed for key IRS tax classifications
- 4 Taxpayer Identification Number (TIN) types, when they are issued & by whom
- IRS TIN matching and name control requirements
- When the IRS requires the Form W-9 to be certified
- What’s required for payments reported on 1099-MISC and 1099-NEC
Detailed Review of Sample W-9s Completed for a/an:
- Individual/Sole Proprietor/Single Member LLC
- C Corporation
- S Corporation
- Limited Liability Company (LLC) taxed as a Partnership, C Corp, or S Corp
Best practices to Ensure Accurate W-9s
- How to setup the vendor’s legal name (Line 1) and DBA (Line 2)
- Keys to spotting the biggest mistakes vendors make on W-9s
- When to accept or reject (send back) a vendor’s Form W-9
- How to resolve Legal Name + Tax ID mismatches
- Using a substitute Form W-9
Question and Answer Session - have your questions and unique challenges addressed
About the Speaker
Debra Richardson is an accounts payable speaker, trainer, and consultant. An accredited Accounts Payable Manager, Procure-to-Pay Manager, and Payment Reporting Specialist, she has over 20+ years’ experience in accounts payable, accounts receivable, general ledger, and financial reporting for Fortune 500 companies including Verizon, General Motors and Aramark. She has worked in the Telecommunications, Automotive, Healthcare, and Oil & Gas industries.
As a practitioner, Debra focused on Global Vendor Maintenance for US, APAC, EMEA, and LATAM countries, managed a team of 17 processing over 2,000 vendor requests per month, and maintained 140k+ active vendors across seven accounting systems. Responsible for issuing over 24k+ IRS 1099s, she was also successful at establishing internal controls and authentication to prevent fraud in the vendor master file.
Debra now focuses on helping Accounts Payable and Procurement Teams protect the Vendor Master file from Fraud by providing training, content, and resources to clean up vendor data and clean up vendor processes to pay the right vendor.
In this 75-minute, compliant-based event you’ll learn how to identify when Form W-9s are valid or need to be sent back, keys to recognizing various tax classifications, and best practices to prevent errors.
If you'd like this program customized for your organization, call us at 1-800-964-6033. We're certain we can fulfill your training needs, while making it fit in your budget!