My app got approved and I'm trying to submit the US tax form, but I am not sure what to select for #3 and #4. I am registered as a myself not as a business and I don't think I am neither an "Exempt Payee" or "Subject to Backup Withholding" but it seems like it's making me select an option.
Any help would be appreciated thanks!
The choices are simple: 'exempt' or 'subject to' (employee/boss of one). There is no third example. If the second one doesn't apply, that leaves the first.
I have the same question (filing as an Individual/Sole Proprietor). The terminology for allowing one's self to be theived can be quite confusing!
This information (or most of it) pops up after you tap "submit". It is copied from the IRS W9 instructions.
Payments you receive will be subject to backup withholding if:
Part II for details), 3. The IRS tells the requester that you furnished an incorrect TIN, 4. The IRS tells you that you are subject to backup withholding because you did not report all your interest and dividends on your tax return (for reportable interest and dividends only), or 5. You do not certify to the requester that you are not subject to backup withholding under 4 above (for reportable interest and dividend accounts opened after 1983 only). Certain payees and payments are exempt from backup withholding. See Exempt payee code, later, and the separate Instructions for the Requester of Form W-9 for more information. Also see Special rules for partnerships, earlier.
