A W9 simply provides the requestor payer your tax ID number. What they end up doing with that number, such as issuing a MISC to the payee, is what matters. The HOA may wish to provide the payer donor a donation acknowledgement, though you will want to include a disclaimer that your HOA is not a c 3 and donations are not tax-deductible to the donor. Thank you for this bit of information. My NP is new and we are on our way to filing our ez and as of now we have fiscal sponsor.
On line 1 are we to document our name or the fiscal sponsors name? If your new org is being paid directly, the info is yours. If your fiscal sponsor is being paid on your behalf, it should be theirs. Now, may I ask what form the company is to provide the corporation for funds we received that were not donations?
Those are provided to vendors for the gross total of payments sent by the purchasing organization. Typically, MISC is only sent to non-corporate businesses like sole proprietorships and partnerships. Corporations and LLCs usually do not need to receive s from customers.
The key point is that the church paid the contractor, and should issue them a NEC at the end of the tax year. Please update article to include updated W9 IRS link. Thank you for this very helpful and detailed article. There is great confusion among c6 nonprofits about Section 3 and 4 of this form.
By signing it you attest that: The TIN you gave is correct. You're a U. The rest of Form W-9 is dedicated to instructions that help you navigate the different responses throughout the form. Although Form W-9 is a standard tax document and by itself, it doesn't pose many problems, there are a few situations worth watching for.
Make sure a person knowledgeable about your business is filling out the form. Employees complete Forms W-4, not Forms W-9, to set their tax withholdings. Make sure you understand and agree with the worker classification the requestor has in mind. If you're unsure why you're being asked to complete the form, ask what types of tax documents you can expect to receive when the information is used.
Make sure the person taking your information is authorized to do so. You should always exercise caution when giving out sensitive information like your name, address, SSN or EIN so take steps to transmit W-9 information securely. Protect the confidential information by sending it via an encrypted email, by hand delivery, or by mail. You might have other questions as you complete a Form W-9, so download the instructions with the form.
Visit IRS. Thank you for listening! Ask questions, get answers, and join our large community of tax professionals. Sign In. Enter a search word. Turn off suggestions. Enter a user name or rank. Turn on suggestions. Showing results for. Search instead for. Did you mean:. Labels 1. Labels ProSeries Professional. Enter the legal name of the nonprofit corporation on the first line. The legal name is the name of your corporation as it appears on all tax forms and corporation documents.
If your nonprofit operates under a separate business name, enter that name on the second line. Check the box that is titled "Other" on line 3 and write an explanation - that your corporation is exempt based on the IRS Code Section that applies to your organization. In many instances, this code is c 3 , which is the designation for charitable organizations.
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