W9 Landlord Tenant Form

W9 Landlord Tenant Form – This happens when a tenant receives a rent discount or credit in exchange for services rendered to the landlord. Rent credit situations may also require tenants to provide a w9. The w9 form is used to collect information about you, the tenant, and your tax identification number. When the landlord distributes the accumulated interest to a tenant, they must file an information return (i.e.

New york law requires that the security deposit be put into a segregated trust account, with any interest designated as going towards the tenant. As a tenant, you may have received a request from your landlord to fill out a w9 form. An improperly filed w9 form can result in tax penalties or other legal issues. The w9 is a standard tax form landlords need in order to properly deal with your security deposit, though many of them don't bother with it, says sam himmelstein, a lawyer who represents residential and commercial tenants and tenant associations.

By obtaining a w9 form from independent contractors, landlords can ensure they have the correct information needed to file forms 1099 at the end of the year. Form 1099) with the irs. W9 forms help landlords and other businesses accurately report payments made to independent contractors.

Why is landlord asking for w9. Role of a property management company.

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