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Departments are required to submit a W-9 form when requesting that a new payee be set up for a payment authorization.
The department processing the payment should obtain a W-9 completed by the payee and submit the completed Fax Cover Sheet (Excel) and the W-9 to the fax number on the cover sheet. The W-9 form must be certified by the payee (taxpayer) but can be a copy of the original.
Note: Until further notice, this requirement does not apply to:
- New vendors being set up for purchase orders
- Foreign payees (contact Robin Posner)
The IRS requires a W-9 form to certify the taxpayer ID number, type of taxpayer (individual, partnership, or corporation), and the status as non-profit, exempt, etc. W-9s are required for payees who will receive payment subject to reportable income on the IRS 1099 form. Examples of reportable transactions include:
- Rent
- Royalties
- Medical and health care payments (including corporations)
- Prizes and awards
- Research subjects
- Blood donors
- Professional services
- Entertainers
- Honorariums
- Guest lecturers
- Attorney fees
For more information, contact Robin Posner.
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