Highlights Use Form W-9 for U.S. payees and the appropriate W-8 for foreign payees. Request the form before the first payment. Without valid documentation, default withholding or presumption rules may apply Most W-9 and W-8 errors are preventable at intake The IRS draft Form W-9 (Rev. June 2026) adds a digital asset broker certification checkbox and new exempt payee Code 14. Any substitute W-9 requires updating once the final form is published CARF (Crypto-Asset Reporting Framework) requires documentation W-8 forms do not currently capture To dig deeper, visit the original article on the Thomson Reuters blog.

W-8 and W-9 best practices and what’s changing - Advisory - Tax, Audit & Acctg

Nageshwaran Gopal 14 days ago

Highlights

Use Form W-9 for U.S. payees and the appropriate W-8 for foreign payees. Request the form before the first payment. Without valid documentation, default withholding or presumption rules may apply
Most W-9 and W-8 errors are preventable at intake
The IRS draft Form W-9 (Rev. June 2026) adds a digital asset broker certification checkbox and new exempt payee Code 14. Any substitute W-9 requires updating once the final form is published
CARF (Crypto-Asset Reporting Framework) requires documentation W-8 forms do not currently capture

To dig deeper, visit the original article on the Thomson Reuters blog.