Submitted by enCPA on 02-12-2021 03:11 PM
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.
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