Why do I need to submit a W-9 to Freedom Forever?
A: I'm glad you asked! The IRS requires Freedom Forever to obtain a signed W-9 form prior to issuing payments to customers. If the amount of payments issued in a calendar year is less than $600, you will not receive a Form 1099 from Freedom Forever. We are unable to give tax advice and recommend you keep all expense invoices and receipts that relate to the payment you have received (for example, finance payment statements, subcontractor invoices, repair and maintenance supplies, and expenses, etc.) and reach out to your tax advisor to obtain guidance on how to treat these expenses on your tax return.
Why do I have to wait so long to get a payment? Can’t you just send it back to my credit card?
A: Great question! While some companies do offer this, they do so at a direct or indirect cost. Freedom Forever mails checks to our customers to ensure competitive operational costs and to prevent pushing payment processing charges to our customers.
Why do I need to submit a W-9 when this isn’t a payment—this is a refund? Why am I being taxed on a refund?
A: I can definitely answer your question on that! The IRS requires any entity that makes payments—including refunds-- to obtain a W-9.
What certainty do I have that you will keep my information like my SSN private and secure?
A: We take your private information seriously and confidentiality is paramount at Freedom Forever. We adhere to all encryption and privacy expectations set by the government.