Another Draft W-9 Released in May — EIN Prohibition on Individuals is Gone The IRS in May released another draft of a new W-9, and this draft removed the prohibition on an individual/sole proprietor from using an EIN. In this latest draft, the only thing listed under “What’s New” is a new backup withholding exemption…
Watch or listen to the associated podcast: https://podcasts.dinesenmedia.com/show/information-return-intelligence-1/powwows-prizes-and-1099s-lessons-from-a-2026-irs-ruling/ Catching up on some other 1099 news so far in 2026, back in January, the IRS released an interesting private letter ruling (PLR) in which it dived into whether or not a Native American tribe needed to issue a 1099 to a winner at a powwow. We…
Listen to or watch the related podcast episode: https://podcasts.dinesenmedia.com/show/information-return-intelligence-1/iofm-conference-takeaways-anxiety-complexity-and-ai/ Last week, I was at the IOFM spring conference in Orlando. I have always felt like this is a great event because IOFM is a high-quality organization, and IOFM members are high-quality professionals. I do all of the education on 1099s and other information-reporting issues at…
Listen to or watch the podcast on this episode: https://podcasts.dinesenmedia.com/show/information-return-intelligence-1/latest-w-9-draft-irs-reverses-course-on-sole-proprietor-ein-rule/ The IRS on Monday released another draft of a new W-9, and this draft has removed the prohibition on an individual/sole proprietor from using an EIN. In this latest draft, the only thing listed under “What’s New” is a new backup withholding exemption code that…
