I was wondering if someone could provide some insight. I run a business where I pay people to send traffic to my websites and other websites. I reimburse them a specific amount for the traffic sent. I require a W9 and W8-BEN from my people who send the traffic. There are other businesses just like mine which do not require their people to submit either form. Also there are some companies which I send traffic to and they give me a specific amount per traffic I sent, two of the companies I work with are based in the USA and they do not require that I submit a W9 from my business, they ask me to submit an Invoice to them and then they will pay me on the invoice. My question is how does that work for them not to require a W9 from me.
I wonder if you could explain what those are? As this is an international forum, I’m not too sure many members are going to understand the reference.
W9- When a business pays an independent contractor $600 or more over the course of a tax year, it is required to report these payments to the IRS on an information return called form 1099-MISC. Businesses use the name, address and Social Security or tax identification number from form W-9 to complete form 1099-MISC
W8-BEN - Form W8-BEN, Certificate of Foreign Status of Beneficial Owner for U.S. Tax Withholding, is used by a foreign person to establish both foreign status and beneficial ownership, and to claim income tax trea
I know consultations can be more than inexpensive, to understate. But IMHO you should really talk with a tax lawyer / tax accountant.
And I know paying taxes is less than fun, to again understate. But personally I think I would rather pay them when due than to have a mistake be eventually found and then pay accumulated back taxes in lump sum.
And I would rest easier knowing that a sword of damocles wasn’t over my head.
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