The IRS has updated the Form W-9 Instructions. Form W-9 is used by filers to request correct TIN information in order to file information reports with the IRS. There are number of changes to the W-9 Instructions from the previous revision:
Form W-9 Instructions Changes
- Changes made to Payees Exempt From Backup Withholding section
- Requesters may rely on the payee’s claim of exemption unless they have actual knowledge that the exempt payee code and/or classification selected are not valid, or if they are inconsistent with each other.
- New note in Individual Taxpayer Identification Number (ITIN) section
- ITINs that haven’t been included on a U.S. federal tax return at least once in the last three consecutive tax years will expire.
To view the new Form W-9 Instructions, please click here.