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We are a small business, s corp founded in delaware but

Customer Question
We are a small...

We are a small business, s corp founded in delaware but doing business in new york city

Accountant's Assistant: The Accountant will know how to help. Please tell me more, so we can help you best.

Hi sorry for delay we are a roofing business we currently have workers comp and insurance

Accountant's Assistant: Is there anything else important you think the Accountant should know?

And have officially one employee on payroll - we received his w9 but did not submit it to the irs yet because we do not know how to set ourselves up

Submitted: 3 months ago.Category: Tax
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3/14/2018
Tax Professional: Stephen G., Sr Income Tax Expert replied 3 months ago
Stephen G.
Stephen G., Sr Income Tax Expert
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Hello, my name is***** goal is to give you a complete & accurate answer. I am working on your request now & I will respond as soon as possible.

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Tax Professional: Stephen G., Sr Income Tax Expert replied 3 months ago

An employee must complete a FORM W-4, not a W-9.

W-4s are kept on file by the Company & used in figuring income tax withholding for the Company's payroll.

W-9s are filled out by vendors who use that for to disclose their income tax Social Security number or Federal Identification Numbers; the number used should be the number used to report their income taxes.

Neither the W-4s or W-9s are to be filed with the IRS, but must be available for inspection by the IRS.

Let me know if you have any follow-up questions.

Please remember to rate my response as that is the only way the SITE will credit me for assisting you.

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Customer reply replied 3 months ago
Thank you Stephan - I have a few concerns we opened a S Corp in 8/2017 in the state of Delaware and received our application for authority in 11/2017 for the state of New York what does this mean for us tax wise as a new business. We missed the small business tax filing deadline of March 15 and need an extension as a new small business we have not made profit as everything has been an expense. What is the best route to go for us. Thank you
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