W-9 EXCHANGE SYSTEM AND METHOD
A system and method is presented for sharing tax-related information. A repository is provided for storing tax-related information corresponding to a taxpayer identification number. A user access may gain access to the repository based on a pre-determined criterion and, upon the user accessing the repository, the user is permitted to at least one of add tax-related information corresponding to taxpayer identification number to the repository, access the tax-related information stored in the repository, or change the tax-related information stored in the repository.
1 . A system for sharing tax-related information, comprising:
a server including a processor and memory;
a database accessible by the server, the database storing tax-related information corresponding to Form W-9;
logic stored in memory and executable by the processor, the logic including
logic configured to cause the processor to at least one of i) enable a user to add to the database payee tax-related information corresponding to Form W-9, ii) enable a user to access payee tax-related information stored in the database and corresponding to Form W-9, or iii) enable a user to change payee tax-related information stored in the database and corresponding to Form W-9; and
logic configured to share the payee tax-related information stored in the database between a first business entity and a second business entity both different from the payee, the first business entity separate and distinct from the second business entity.
2 . The system according to claim 1 , further comprising logic configured to cause the processor to correlate tax-related information corresponding to Form W-9 with payees associated with a business entity.
3 . The system according to claim 1 , further comprising logic configured to cause the processor to grant a user access to the repository based on a pre-determined criterion.
4 . The system according to claim 3 , wherein the predetermined criterion is membership to a predetermined group.
5 . The system according to claim 4 , wherein the pre-determined group comprises an employee of a business entity.
6 . The system according to claim 4 , wherein the pre-determined group comprises an employee within a department of a business entity.
7 . The system according to claim 1 , wherein the logic configured to cause the processor to grant a user access to the repository based on a pre-determined criterion includes logic that grants access to a user upon the user paying a fee.
8 . The system according to claim 1 , further comprising logic that causes the processor to automatically generate information corresponding to Form 1099-MISC.
a server including a processor and memory;
a database accessible by the server, the database storing tax-related information corresponding to Form W-9
9 . A method of sharing tax-related information, comprising:
establishing an electronic repository for storing tax-related information corresponding to Form W-9;
granting a user access to the electronic repository based on a pre-determined criterion;
upon the user accessing the electronic repository, allowing the user to at least one of i) add to the electronic repository payee tax-related information corresponding to Form W-9, ii) access payee tax-related information stored in the electronic repository and corresponding to Form W-9, or iii) change payee tax-related information stored in the electronic repository and corresponding to Form W-9; and
sharing the payee tax-related information stored in the electronic repository between a first business entity and a second business entity both different from the payee, the first business entity separate and distinct from the second business entity.
10 . The method according to claim 9 , further comprising correlating the tax-related information corresponding to Form W-9 with payees associated with a business entity.
11 . The method according to claim 9 , wherein granting the user access to the repository based on the pre-determined criterion includes granting the user access upon membership to a predetermined group.
12 . The method according to claim 11 , wherein the pre-determined group comprises an employee of a business entity.
13 . The method according to claim 11 , wherein the pre-determined group comprises an employee within a department of a business entity.
14 . The method according to claim 13 , wherein the department comprises at least one of an accounts payable department or an accounts receivable department.
15 . The method according to claim 9 , wherein granting the user access to the repository based on the pre-determined criterion includes granting the user access upon the user paying a fee.
16 . The method according to claim 15 , wherein granting the user access upon the user paying the fee includes the user paying a fee corresponding to a subscription service for accessing the repository.
17 . The method according to claim 9 , further comprising accessing the repository via a website.
18 . The method according to claim 9 , further comprising accessing the repository via a business management interface.
19 . The method according to claim 9 , further comprising identifying at least one record in the repository that is affiliated with a business entity, and retrieving the record.
20 . The method according to claim 19 , further comprising automatically generating information for reporting wages paid to payees of the business entity based on the retrieved record.
21 . The method according to claim 20 , wherein the information corresponds to form 1099-MISC.
22 . The method according to claim 9 , further comprising certifying the accuracy of the tax-related information stored in the repository.