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1099-MISC/TAX ID QUESTION

  
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Subject Author Date
1099-MISC/TAX ID QUESTION ETW 01-18-2008
Posted by ETW on January 18, 2008, 7:38 pm
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 If a tax ID number is in the format of 55-5555555 and not a social
security number is it safe to assume they are a corporation therefore
I do not need to prepare a 1099-MISC?

Regards,

JW

--
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Posted by Rich Carreiro on January 18, 2008, 9:33 pm
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> If a tax ID number is in the format of 55-5555555 and not a social
> security number is it safe to assume they are a corporation therefore
> I do not need to prepare a 1099-MISC?

No. EINs can be and are used by non-corporate entities,
including sole proprietorships.

--
Rich Carreiro rlc-news@rlcarr.com

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

Posted by Victor Roberts on January 20, 2008, 1:02 am
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On Fri, 18 Jan 2008 19:38:02 EST, ETW

>If a tax ID number is in the format of 55-5555555 and not a social
>security number is it safe to assume they are a corporation therefore
>I do not need to prepare a 1099-MISC?

Ask them to fill out Form W-9 and send it to you.

You will then have the proper EIN, type of business entity
and statement about backup withholding for this
organization. Many of my clients ask for a W-9 when we
start a business relationship.

--
Vic Roberts
Replace xxx with vdr in e-mail address.

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

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