entering payee information

[ketanco]

i was filling out the payee information for w9 on amazon.com's createspace as i wrote my first book and they request tax info for making payments to me (Assuming my book will sell of course). i am using my LLC as the payee and i am the only owner...

i wrote sole proprietorship, wrote my LLC name and used my own SSN.... then on next page, among two more things which i understand, also there was the following: " I certify that:

-I am not subject to backup withholding because: (a) I am exempt from backup withholding, or (b) I have not been notified by the Internal Revenue Service (IRS) that I am subject to backup withholding as a result of a failure to report all interest or dividends, or (c) the IRS has notified me that I am no longer subject to backup withholding,

and it also says -

The FATCA code(s) entered on this form (if any) indicating that I am exempt from FATCA reporting is correct. "

do i check these or leave blank? i dont understand what these are so i dont know if i check these or not

i mean i did not enter any facta or whatever codes ... so why do i check or uncheck if there are no codes???

[vangogh]

I had no idea what either was so I did a little searching.

FACTA stands for Foreign Account Tax Compliance Act. I'm going to take a guess that your are exempt unless you have some foreign accounts. I think it being mentioned on the form is just to cover all bases, hence the (if any).

Backup Withholding (http://en.wikipedia.org/wiki/Backup_withholding) seems to be required in certain situations. The link will take you to a Wikipedia page. There's some information on the irs.gov site if you search for backup withholding. I didn't see a general article to point you to, but I only looked at the first couple of results. I'm guessing you're exempt here also, but take everything I say with a grain of salt as all of this is coming from 10 minutes of searching.

[billbenson]

I've never heard of FACTA

[Evan]

Leave it blank unless you have bank accounts in foreign countries. You'd have to report all foreign bank accounts on Schedule B of your 1040.

Owning mutual funds with international exposure isn't the same thing as a foreign bank account.