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Terms in this set (197)
Determination of Worker Status for
Form SS-8 Purposes of Federal Employment Taxes
and Income Tax Withholding
, First, it is used by third parties to collect
identifying information to help file
information returns with the IRS.
The form is never actually sent to the
IRS, but is maintained by the person
who files the information return for
verification purposes.
The information on the Form W-9 and
the payment made are reported on a
Form 1099.
Form W-9
The second purpose is to help the
payee avoid backup withholding. The
payer must collect withholding taxes on
certain reportable payments for the IRS.
However, if the payee certifies on the
W-9 they are not subject to backup
withholding they generally receive the
full payment due them from the payer.
This is similar to the withholding
exemptions certifications found on
Form W-4 for employees.
, Apply for an original Social Security
card
Apply for a replacement Social Security
Form SS-5
card
Change or correct information on your
Social Security number record
Application for Employer Identification
Form SS-4
Number (EIN)
Accounting Assets = Liabilities + Capital
equation (Balance Assets - Liabilities = (Shareholders' or
Sheet) Owners' Equity)
Asset (Debit or Debit
Credit Normal
Balance?)
Expense (Debit or Debit
Credit Normal
Balance?)
Liability (Debit or Credit
Credit Normal
Balance?)
Capital (Debit or Credit
Credit Normal
Balance?)
APA (Master Exam Practice) Actual
Exam Questions / Complete Accurate
Quizzes with Verified Answers /
Save
Terms in this set (197)
Determination of Worker Status for
Form SS-8 Purposes of Federal Employment Taxes
and Income Tax Withholding
, First, it is used by third parties to collect
identifying information to help file
information returns with the IRS.
The form is never actually sent to the
IRS, but is maintained by the person
who files the information return for
verification purposes.
The information on the Form W-9 and
the payment made are reported on a
Form 1099.
Form W-9
The second purpose is to help the
payee avoid backup withholding. The
payer must collect withholding taxes on
certain reportable payments for the IRS.
However, if the payee certifies on the
W-9 they are not subject to backup
withholding they generally receive the
full payment due them from the payer.
This is similar to the withholding
exemptions certifications found on
Form W-4 for employees.
, Apply for an original Social Security
card
Apply for a replacement Social Security
Form SS-5
card
Change or correct information on your
Social Security number record
Application for Employer Identification
Form SS-4
Number (EIN)
Accounting Assets = Liabilities + Capital
equation (Balance Assets - Liabilities = (Shareholders' or
Sheet) Owners' Equity)
Asset (Debit or Debit
Credit Normal
Balance?)
Expense (Debit or Debit
Credit Normal
Balance?)
Liability (Debit or Credit
Credit Normal
Balance?)
Capital (Debit or Credit
Credit Normal
Balance?)
