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Obligation to verify a change to C-Corp on a W-9?
November 2, 2022
Q. We received a W-9 from a rental management company with the Individual/Sole Proprietor or Single Member LLC box checked, and we made it 1099N Class 01 reportable. Then, a year later, we received a new W-9 to update their address, but on the new W-9, they have C Corp box checked, which makes them non-1099-reportable. Do we, as a customer, just make the changes in our system based on the latest W-9 received from the vendor, or is there a way to check to see if maybe they made an error on their…
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