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When to flag a vendor as non-reportable
February 16, 2024
Q. Most of the time receipt of a W-9, section 3 is not checked. Should we automatically set up and send a 1099? If section 3 is checked, which entities are considered reportable?
A.
(Answered by IOFM's third-party tax experts)
Please see Section 3 of the Master Guide to Form 1099 Compliance which gives you much more information than can be provided in this Q&A format, concerning reportable payees, exempt payees, treatment when no W-9 is furnished or the W-9 is unreliable, and requirements to…
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