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Subject Author Date
How Long Does a Business have to request a W-9? websiteworld 06-20-2006
Posted by websiteworld on June 20, 2006, 2:12 am
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 We had a company that has not done business with us since
10/1/2005. They sent us a W-9 on 6/2006 along with a Blanet
Certificate of Resale, and Application for Credit.

Anyone know why they would be doing this, they are no longer
a customer and we will recieve no monies from them in the
2006 tax year.

She claims they have two years to send it out, but surely
they cannot issue a 1099 at this time.

<< ======================================================= >>
<< The foregoing is intended for educational purposes only >>
<< and does NOT constitute legal OR professional advice. >>
<< >>
<< The Charter and the Guidelines for submitting >>
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<< Copyright (2006) - All rights reserved. >>
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Posted by Phil Marti on June 21, 2006, 1:31 am
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> We had a company that has not done business with us since
> 10/1/2005. They sent us a W-9 on 6/2006 along with a Blanet
> Certificate of Resale, and Application for Credit.
>
> Anyone know why they would be doing this, they are no longer
> a customer and we will recieve no monies from them in the
> 2006 tax year.
>
> She claims they have two years to send it out, but surely
> they cannot issue a 1099 at this time.

I can't answer your question, but it's moot at this point.
(They're probably being audited for something and their
records are a mess, but if all they're willing to tell you
is "we can," all you need to say is "no.")

The time to ask for a W-9 is before you cut a payment check.
It's the only time you have leverage. The worst thing that
can happen to you if you ignore the request is that they'll
backup withhold from your payment, but since you're not
going to be getting any payments, there's no consequence at
all.

Throw it away.

--
Phil Marti
Clarksburg, MD

<< ======================================================= >>
<< The foregoing is intended for educational purposes only >>
<< and does NOT constitute legal OR professional advice. >>
<< >>
<< The Charter and the Guidelines for submitting >>
<< messages to this newsgroup are at www.asktax.org. >>
<< Copyright (2006) - All rights reserved. >>
<< ======================================================= >>

Posted by Paul Thomas, CPA on June 21, 2006, 1:50 am
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> We had a company that has not done business with us since
> 10/1/2005. They sent us a W-9 on 6/2006 along with a Blanet
> Certificate of Resale, and Application for Credit.
>
> Anyone know why they would be doing this,

They are probaby trying to tie up loose ends, either before
they get audited, or because of an audit.

> they are no longer a customer and we will recieve
> no monies from them in the 2006 tax year.
>
> She claims they have two years to send it out, but
> surely they cannot issue a 1099 at this time.

Well, I trust you included that income on your tax return -
as you should have. If so, it should make no difference to
you if they issue the 1099 for 2005 in 2010. But yes, they
can issue a 2005 Form 1099 "at this time".

Otherwise, don't respond to their request. I wouldn't
provide it.

--
Paul Thomas, CPA
paulthomascpapc@bellsouth.net

<< ======================================================= >>
<< The foregoing is intended for educational purposes only >>
<< and does NOT constitute legal OR professional advice. >>
<< >>
<< The Charter and the Guidelines for submitting >>
<< messages to this newsgroup are at www.asktax.org. >>
<< Copyright (2006) - All rights reserved. >>
<< ======================================================= >>

Posted by websiteworld@gmail.com on June 21, 2006, 10:55 pm
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Thanks for all the replies, and yes, we claimed it on our
taxes, but just in the gross sales.

<< ======================================================= >>
<< The foregoing is intended for educational purposes only >>
<< and does NOT constitute legal OR professional advice. >>
<< >>
<< The Charter and the Guidelines for submitting >>
<< messages to this newsgroup are at www.asktax.org. >>
<< Copyright (2006) - All rights reserved. >>
<< ======================================================= >>

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