Physical Address
5206 Hwy 5 N Suite 100, Bryant, AR, United States, Arkansas
Introduction
If you think January is the start of tax season, you’re already behind.
For most growing businesses, the real work happens during Q4 planning and August is when smart teams start building their W-9 strategy.
Why so early? Because chasing contractors for forms in January is pure chaos:
- Missed emails.
- Outdated forms.
- Looming IRS deadlines.
Starting now means:
✔ No scramble during your busiest months.
✔ No fines for missing or incorrect W-9s.
✔ A smooth path to 1099 filings in January.
In this guide, we’ll walk you through why early W-9 prep matters, the checklist you need, and how to make compliance effortless.
Why W-9s Can’t Wait Until January
IRS Form W-9 might seem like a simple piece of paper, but it plays a critical role in your year-end tax filings. Here’s why delaying is risky:
1. IRS Penalties Add Up
Failing to collect or provide a correct W-9 can result in penalties of up to $290 per form. Multiply that by multiple contractors, and the cost can be significant.
2. Backup Withholding Can Hit Cash Flow
If you don’t have a valid W-9, you’re required to withhold 24% of payments to contractors, an administrative headache and a relationship killer.
3. January Is Already Overloaded
By the time January rolls around, finance and operations teams are already juggling:
- Year-end close.
- 1099 preparation.
- Audits and reconciliations.
Adding “chase missing W-9s” to that list? That’s a recipe for burnout.
Your Early W-9 Compliance Checklist (Aug–Dec)
Think of this as your W-9 readiness blueprint start now, and you’ll thank yourself in January.
- Review Your Vendor List
Pull a report of all contractors, freelancers, and vendors you’ve paid (or will pay) this year. - Check for Missing or Outdated Forms
If it’s not the IRS Form W-9 (Rev. March 2024), it’s outdated. Replace it.
(See the latest form on the IRS website). - Send W-9 Requests Now
Give vendors plenty of time to respond weeks, not days. - Verify Taxpayer Identification Numbers (TIN/EIN)
Use the IRS TIN Matching Program to ensure accuracy. - Secure Your W-9 Storage
Store forms in an encrypted, organized system that’s easy to retrieve at tax time. - Automate Follow-Ups
Schedule reminders so you don’t spend January sending frantic emails.
Want to see how simple it is?
Check out our guide on How GetW9 Works: Automation + Peace of Mind.
The Q4 Action Plan
Breaking your W-9 prep into clear phases makes it manageable and stress-free.
August–September:
- Audit your vendor list.
- Send first-round W-9 requests.
October–November:
- Follow up with non-responders.
- Verify all submitted forms.
December:
- Final audit of W-9 records.
- Ensure your archive is complete and secure.
How GetW9 Makes It Effortless
You could do all of the above manually with spreadsheets, email chains, and file folders… or you could let GetW9 handle it in a few clicks.
- One-Click Requests: Send branded, trackable W-9 requests instantly.
- Automatic Reminders: Vendors get polite nudges without you lifting a finger.
- Real-Time Tracking: See exactly who has submitted and who hasn’t.
- Encrypted Storage: Keep every W-9 secure, organized, and audit-ready.
With GetW9, your W-9 collection runs quietly in the background while you focus on running your business.
Conclusion
Tax season doesn’t start in January, it starts now. The earlier you prepare, the less you stress, and the faster you file.
Don’t wait until the IRS is breathing down your neck.
Start your free 7-day trial of GetW9 today and see how easy compliance can be.
