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Form W-9 in S Corporation Module

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Form W-9 in S Corporation Module

enCPA

We have many clients who are LLCs treated as S corporations for federal income tax purposes. Sometimes these clients will receive a 1099 (used to be a 1099-MISC, now a 1099-NEC) from their vendors because the vendor doesn't know the client is an S corporation. It would be nice if there were a way for Lacerte to quickly generate a Form W-9 we could give to the client that would have an exempt code 5 (corporation) in question 4, and LLC with tax classification = S in question 3, so the client could give it to their vendors and have a little less paperwork to deal with during tax season.

Thank you!

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3 Comments
qbteachmt
Level 15

"from their vendors because the vendor doesn't know the client is an S corporation."

A Vendor is a supplier of goods or services to you. They send you a W9 upon request, because you (the corporation) needs to know if they will be paying someone subject to 1099 reporting.

"It would be nice if there were a way for Lacerte to quickly generate a Form W-9 we could give to the client that would have an exempt code 5 (corporation) in question 4,"

That seems more like something your client, the corporation, keeps on hand to send to their Customers. The people that pay them would be requesting a W9 from that corporation.

"and LLC with tax classification = S in question 3, so the client could give it to their vendors and have a little less paperwork to deal with during tax season."

You can get this W9 form from the IRS and fill it in and save it as PDF. You don't need to generate it Per Year. It gets updated on occasion, but it is not a Tax Year form.

enCPA
Level 2

Sorry, I definitely meant customer, not vendor. (It already feels like it's been a long tax season...)

Usually what I do is get the form from the IRS website and fill it out, like you said. It just feels inefficient to have to copy by hand information that's already in Lacerte. If Lacerte will generate a Form SS-4 you can send to the client the one year the client needs it, I don't see why generating a W-9 the first year the LLC is an S corporation should be much different.

qbteachmt
Level 15

"It just feels inefficient to have to copy by hand information"

It's Screen Fillable, then you save it as PDF. Then, print or email whenever someone wants one for that entity.

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