Comments on: Is it time to ask for updated W-9s?

By: Sharon

Sharon — Thu, 11 Dec 2008 17:40:22 +0000

I agree also. As an A/P Specialist for 22 companies, it is not practical to request new W-9′s every year. We also hold payment until the W-9 is received for new vendors. We routinely run audit reports to follow-up throughout the year to verify that our 1099 vendors are up-to-date. It really saves when running the final reports this time of year. We also have a master Excel spreadsheet with all of our 1099 vendors’ information for cross-reference. It’s a very quick way to verify if a vendor works at more than one of our company’s.

By: Cherryl

Cherryl — Thu, 11 Dec 2008 16:39:34 +0000

I agree that it is not necessary to request a new form each year. However, new vendors are asked to submit one for my file and when received, I update the accounting program, which will efficiently run the 1099′s at the end of the year. Too easy…

By: Carol Sarubin

Carol Sarubin — Thu, 11 Dec 2008 14:35:59 +0000

Requesting the W-9, as warranted throughout the year, eliminates the need to address this at year end.

By: Carol Sarubin

Carol Sarubin — Thu, 11 Dec 2008 14:34:04 +0000

As a standard practice, I routinely request W-9′s from any new vendor prior to issuing a check to them, or if I know that there are changes within the vendor organization. I have never experienced someone unwilling (or too busy) to complete and return the W-9; vendors are very prompt to provide that data if payment of an invoice is pending receipt of the form.