IRS Form W-9 Help

Okay guys, so I have the final verdict. And this is just for newbies who will need the information in the future. The rest of you guys have already been through this.

So if you are a single-member LLC, you put your name in Line 1, and your LLC name in Line 2. In Part 1, since you are considered a disregarded entity, you put your EIN. The second video supports this and also the directions on the W9.

Thanks for all your responses. Now, on to the next question...

 

This is a Public Service Announcement! So I guess my previous post gives bad info. Once again, conflicting views and opinions.

Okay, so this is what happened to me TODAY. I have a trucking company that is a SINGLE-MEMBER LLC. Last night I sent out W9s to a bunch of brokers. I put my name on Line 1 and my company name on Line 2. On Part 1, I entered my EIN. So TODAY, I got a couple of emails from RMIS and J.B. Hunt stating that I filled it out incorrectly, because the name on Line 1 and the EIN on Part 1 didn't match. So I have to resubmit them now.

So this is how it's supposed to be apparently: Single-member LLCs are considered disregarded entities, and defer to a sole proprietorship reporting status. In a sole proprietorship, your taxes are filed under your personal name.

So in Line 1, you enter your legal name. In Line 2 you can put your business name. In Part 1, you put your SSN. The guy in the video below states that in the past, people were doing basically whatever they wanted, but the IRS is now starting to crack down on this. I hope this helps any newbie that is as confused as I was. A good rule of thumb is that whichever number you enter on Part 1 should match whichever name you used on Line 1. They both have to coincide.

 

Don't shoot the messenger! My insurance agent, who used to have her own company with 17 trucks, told me to fill it out exactly like you do. So who the hell knows? I guess as long as Line 1 and Part 1 match, everything is cool.

 

No, I had used the EIN of the LLC. Whatever. What's done is done.