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1099 forms

Discussion in 'Business & Tax Advice' started by srhcom, Dec 4, 2009.

  1. srhcom

    srhcom Junior Member

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    A sponsor sent me a request for taxpayer identification number and certification.

    IRS regulations require that we issue 1099 forms to certain companies and individuals.
    In order to accurately prepare these forms, the IRS requires that we obtain and maintain
    form W-9 (or substitute form W-9) for all of our vendors.

    I haven't earned any money from them though. In the PDF they want me to fill out it says failure to your correct TIN to a requester is a $50 fine.

    Do I have to fill this out if nothing was earned from them?
     
  2. theleadsource

    theleadsource BANNED BANNED

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    Who are they saying is going to fine you?

    Uncle Sam?

    If you earned nothing you do not have to fill out the W-9 per IRS rules.
     
  3. nimbus49

    nimbus49 Elite Member

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    No big deal...if it's a reputable company, just fill it out, if you plan on making money
    from that particular company.
    TIN=Taxpayer Identification Number
     
  4. suga051982

    suga051982 Regular Member

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    Occupation:
    marketing, virtual assistant
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    No you dont have to fill out the form if you havent earned anything. However, when you do start earning, they will not pay you without that form being on file. Furthermore, dont be like some people and make up a number to put in there. That can get you in big trouble.