This is often a misunderstood requirement. Understanding all the information below should equip you with what you need to understand what the W-9 requirements are.
If a business pays an individual or company for a service for their business, they need to obtain a W-9.
Please note that the dollar amount paid out to the contractor does not matter. Before any business transaction is done (ie, payment), you should obtain a W-9 on file.
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