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S-Corp gives Soc, not EIN number on W-9

Forums › ACCA Forums › ACCA ATX Advanced Taxation Forums › S-Corp gives Soc, not EIN number on W-9

  • This topic has 2 replies, 3 voices, and was last updated 11 years ago by amjad.
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  • October 16, 2013 at 6:45 pm #142925
    Steve
    Member
    • Topics: 1
    • Replies: 0
    • ☆

    We just hired a subcontractor and received their W-9. The information on the W-9 gave me the Name, Business Name, they checked that they are an “S” corp but only gave us their social security number (no EIN is entered). Do we 1099 them?

    October 29, 2013 at 1:49 pm #144034
    Ask
    Member
    • Topics: 0
    • Replies: 1
    • ☆

    I guess your sub-contractor might be a LLC treated as an S corp for tax purposes. As long as this is ture, then, you do not need to 1099 them. You can check it with the subcontractor.1099s are usually issued to individuals, not to businesses such as an S-Corp/ C-Corp. As you said, as long as your EE, the subcontractor, is an S corp , NOT SMLLC,(disregarded entity)/sole proprietor, you do not 1099them.So, in addition, firms that hire LLCs and pay them more than $600 per year must file Form 1099-MISC with the IRS to report the amount of the payment. (This requirement doesn’t apply if the LLC has opted to be taxed as a S or C-corp.)

    November 10, 2013 at 2:21 am #145240
    amjad
    Member
    • Topics: 4
    • Replies: 52
    • ☆☆

    what is s corp & ein and in which chapter these are in p6 uk it confuse me please tell me about this.

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