The IRS revised Form W-9, Request for Taxpayer Identification Number and Certification, in January 2011. Yes, January, and I recently realized this when a colleague asked some questions about how to fill out the form, and I realized the IRS re-wrote some of the instructions. The short version: if you have a limited liability company (LLC), you may need to take another look at the W-9 form you provide to your vendors and customers. For everyone else, the rules are pretty much the same. Read more about Form W-9 and the updated rules for how to fill out a W-9 for an LLC.
Explore Tax Planning: U.S.
Must Reads
Most Popular
©2012 About.com. All rights reserved.
A part of The New York Times Company.
I am not sure if you are correct. The instructions on the Form W-9 say the following:
Limited Liability Company (LLC). If the person identified on the “Name” line is an LLC, check the “Limited liability company” box only and enter the appropriate code for the tax classification in the space provided. If you are an LLC that is treated as a partnership for federal tax purposes, enter “P” for partnership. If you are an LLC that has filed a Form 8832 or a Form 2553 to be taxed as a corporation, enter “C” for C corporation or “S” for S corporation.
However, your article at http://taxes.about.com/od/taxglossary/qt/W9.htm says the following:
Tips for filing out the Form W-9 if You are Operating as a Limited Liability Company
Form W-9 was revised in January 2011 and the principal change revolves around how Limited Liability Companies (LLCs) fill out this form.
If the LLC is its own separate tax entity (such as a partnership, C-corporation, or S-corporation) then report the name of the LLC and the Federal Employer Identification Number on the Form W-9 and check the appropriate tax classification box (partnership, C-corporation or S-corporation). Do not check the Limited Liability Company box. I know this sounds counter-intuitive, but it’s what the IRS says in their instructions.
Lastly, the W-9 form days it was revised December 2011 but you say it was revised January 2011 – perhaps your article needs to be updated.