As presented and discussed at the Financial Management Meeting on December 8, the UW needs to have a signed legal document on file to support and document the tax information when we make a tax reportable payment. The required document is the IRS W-9 form. The W-9 captures all the required tax information for tax reporting. This includes (1) name, (2) business name, (3) type of entity, (3) exempt status, (4) address, (5) taxpayer identification number, and (6) signature. The W-9 can be found at the IRS web page at www.irs.gov/pub/irs-pdf/fw9.pdf?portlet=3.
Effective January 1, 2010 the UW will be requiring that a completed and signed W-9 form be attached to each tax reportable payment request. This includes all tax reportable payments made through all payment methods (PIR, DP, PO, ASSA, ASSO, Entertainment Contracts, etc.). Tax reportable payment account codes are posted on the Accounting Services web page at www.bussvc.wisc.edu/acct/tax/1099tax.pdf.