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In the USA, generally speaking, yes, if a business is providing a payment for services rendered by another business, then a Form W-9 needs to be obtained. If the payee is not a U.S. person, then a different form is used, typically some variant of the W-8 series of forms.If the payments for services rendered total $600 or more during the same year, then typically a Form 1099-MISC must be prepared and sent.
In addition to Mark’s answer, you would also not need to send out a 1099-MISC for any payments made via credit card as these are reported by their merchant service vendor. How do I get 1099 form from uber? Can you get in trouble for claiming 9 on your taxes? How do I get a copy of my Uber 1099 statement? What is the difference between a W9 and 1099? How much do you need to make on Uber to meet the earnings threshold to receive a 1099 form?
This is usual business practice. You are required to report your earnings to IRS and this is standard documentation.standard It’s perfectly normal. A W-9 Form is what’s required to issue a 1099 Misc to a person for work they did. In this case, a job referral that you provided, benefited them, so they’re giving you basically a payment or bonus for that referral.Now when you file your return for the relevant tax year, make sure to include that with your return and explain in detail exactly what it was for. This will necessitate filing a Schedule C and associated forms with your return.
It depends on the amount of the gratuity and the context in which it is received.First a W9 form is used when a business pays for services to vendors that it reasonably expects the payments will total more than $600 during a calendar year. The W9 is required to give the business the necessary information needed to complete a Form 1099 to report payments for services provided during the year. Gratuities received for providing services to a business would certainly fall under the 1099 reporting requirements and therefore a W9 form would be appropriate.Some businesses have a policy of requiring a W9 from every service provider before any payment in any amount is made. Not particularly a legal requirement, but given the frequent difficulty of obtaining the information after payment has been made, not a necessarily unreasonable policy to have.That is when the gratuity is received in the context of providing a service to a business. Payments for personal services are not subject to 1099 reporting and a W9 should not be needed. Payment of gratuities in the context of what we typically think of in terms of gratuity such as a wait staff at a restaurant or stylist at a hair salon are generally personal in nature and the reporting falls on the service person’s employer and not the person paying the gratuity, so a W9 in that case would not be typical.So did you work a weekend event for a business convention and they want to give you a $500 tip for doing a great job, but require a W9, yea I would probably fill out the form. Do you wait tables at a restaurant and the guest wants to tip you $50 for his business luncheon, I would probably not be inclined to fill out the form. What does Google know about me? When you search on Google, they keep your search history forever. That means they know every search you’ve ever done on Google. That alone is pretty scary, but it’s just the shallow end of the very deep pool of data that they try to collect on people.What most people don’t realize is th...
It depends on your particular situation. The W-8/9 forms are obtained from US (W-9) and non-resident recipients (various W-8 forms) of U.S. source income subject to reporting and/or withholding.The company or individual who is required to obtain the forms is referred to as a “withholding agent.” Withholding agents are all US persons, foreign persons with a trade or business in the USA, and all other foreign persons who have willfully entered into an agreement with the IRS to be treated as withholding agents.A UK based company with non-US owners, will be a U.S. withholding agent only if:You ...
It depends on your location, their location, and how much you’re paying. Safe approach would be to get the forms and figure it out at the end of the year. The fact that you’re paying with PayPal/Cryptocurrency does not change the treatment of the payment. You can pay people in beaver pelts and the IRS looks at it the same way with the extra step of converting your payment type into US dollars. So if I were to pay you $600 for services in US dollars or if I traded you goods or services worth $600 I have to send you a W-9. From the IRS’s perspective those two transaction are identical.
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