When I was registering for YPN, I did not check the box that says I am exempt from backup witholding. Now I found out that I am exempt (I think most people are). Does Yahoo have to get a notice from the IRS for them to withold my taxes, or is it enough that I checked the box?
Check that you are excempt. That should be all you need to do. Backup withholding is when you owe money to the IRS. The IRS makes the employer or company paying you money withhold a portion of your money for taxes. If you don't owe anything you are not subject to backup withholding.
I know but I didn't check it because on their site it says most people are not exempt. Then I read about it and found out what it was. So I emailed them and asked if I could change it, and they said I would have to mail in a new W-9. So I was just wondering if I don't mail one in, are they going to withold? Because the IRS won't make them, but will they because I didn't check the box?
you should call them and physically talk to someone who can tell you exactly whats what and exactly what you need to do. when it comes to money, dont speculate. get definitive answers to your questions. jmo