Episode 41: One Reason to Switch to a Substitute Form W-9

Putting the AP in hAPpy · Jul 25, 2019 · 14m

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Even though the IRS has revised the W-9 form again (the latest version dated October 2018), Accounts Payable (AP) professionals know that the form needs to be collected in order to add a new vendor or in some scenarios, to update existing vendors. And, according to a recent survey by an AP Solutions company, more than two-thirds of AP professionals are validating the Legal Name and Tax ID on the W-9 by performing an IRS TIN Match.

What’s more, vendors know the IRS Form W-9 is a requirement. They will provide and even prepare in advance anticipating the ask.

So why would your…