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Question: Is a W9 tax form with the beginning sequence of the tax number starting with 98 usually a red flag to indicate that a WH should ultimately need to be completed as this would indicate that the entity is not domestic right?
It is not always a red flag if a tax identification number (TIN) on a W9 tax form begins with the sequence 98. However, it may indicate that the individual or entity providing the form is a non-U.S. person or entity. Form W-9 is specifically used to gather TINs from U.S. persons or entities, including citizens, residents, domestic partnerships, and domestic corporations. If the entity is not domestic, you may need to request a W-8 form instead. There are different types of W-8 forms, such as the W-8BEN, W-8BEN-E, W-8ECI, or W-8IMY, depending on the entity's situation. It is essential to clarify the entity's tax residency status and determine the appropriate form to use. If you are unsure, consult with an accountant, tax attorney, or tax expert to advise on the appropriate steps to take.
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