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Form W-9 IN: What You Should Know

And your payment is to a person other than you. You must withhold or credit back 25 percent (or the least of 1.5 percent and 15 percent) of the amount so paid to the person. If you are required to withhold backup withholding on a payment to a person. Who is not physically present in the United States at the time you make payment. You must withhold the same amount, but you must withhold the backup withholding payment until the individual who you made the payment to is physically present in the United States. See the instructions for Form W-9 for information on how to certify for backup withholding. For purposes of backup withholding, a United States financial institution is an institution that is located in the United States. Payment to a nonresident alien or nonresident alien resident who is not physically present in the United States. This rule applies to payments made directly to a consumer and to payments made by a nonresident of the United States. A payment made to a consumer in a foreign country is subject to backup withholding if the consumer's payment is subject to tax in that foreign country. A payment made to a person who is not physically present in the United States must be reported to the United States Department of the Treasury (the “Taxpayer” and “you” are interchangeable) by filing Form 1040. A payment to a foreign affiliate or similar arrangement is subject to backup withholding. This rule applies when the Payment is to a person who is not physically present in the United States. An affiliate is a corporation, partnership or limited liability company that is organized or is treated for U.S. federal income tax purposes as a U.S. limited liability company even though such entities are organized or treated for U.S. federal income tax purposes as partnerships. A similar arrangement is any arrangement or arrangement, the structure of which is substantially similar to a partnership or limited liability company, and includes (as applicable) partnerships or limited liability companies organized in connection with the acquisition or establishment of significant assets for investment by the taxpayer. Nonpayment of the required Form W-9. (If you do not report payment to an account holder). An account holder is someone to whom you owe a debt. You have not made the required Form W-9 or have not reported to that account holder the required information. See Rev. Pro. 2008-25 for rules regarding making an extension of time to file a return due to failure to file a required Form W-9.

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