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GoDaddy reviews : Recommend I purchase GoDaddy?? Sold a domain. Worried about paperwok request?

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Today I sold a .net domain for a substantial amount to a big Storage and Property Management company..

I have agreed to transfer the domain to them upfront and they pay me by check after the domain transfer is complete..

They also sent me a form "W9 Request for Taxpayer Identification Number and Certification".

I don't really want them to have my ssn and other personal information so what do I tell them or do???.

Any advice would be appreciated..

Thanks...

Comments (9)

First off tell them you wont transfer the domain but you are willing to use escrow and they are not getting the info..

Comment #1

Obama's government is starting a plan to require all US business to get such a form for anyone they do over $600 worth of transactions with. Very big brotherish.

You can refuse, but they might drop the offer...

Comment #2

Before Obama companies did this for large payouts. It's going to depend on their accounting department and how they are claiming the purchase. Ask them for their EIN so you can check on their status too...

Comment #3

It has nothing to do with the Obama administration. Companies have been requesting them for their payment records for years.

Using escrow.com won't make a difference. There are some accounting departments that won't make change for a dollar without a w-9 on file...

Comment #4

If you don't want to give out your SSN, you can give them an EIN instead: https://sa2.www4.irs.gov/modiein/individual/index.jsp.

As for the other personal information, they may already have it, if you don't have whois privacy or if they're paying you directly...

Comment #5

For a full explanation on the new bill that has nothing at all to do with the President see What the New 1099 Reporting Requirement will Mean for Businesses | The Whitlock Company..

Comment #6

Nothing to do with the President? He had to sign the dam thing for it to become law.

Oh, I forgot. Democrats don't bother reading bills. GHU..

Comment #7

They are a big company, and I am sure they wont screw me over..

I have faxed the form today and they said I have a check on the way..

I just wanted your guys input and experience. I am thinking they will write the purchase off the domain off as a business expense or something...

Comment #8

That is exactly what they are going to do... because it is a business expense. They will report it and of course big brother will want their cut too at tax time(atleast here in the US they would).

But even affiliate sites ask for such info, when you make more than $600 a year in payouts.

IMHO it is just normal to expect this, since it is the "legal" way of doing business.

Just my 2cents....

By the way congrats on the sell!!!..

Comment #9


This question was taken from a support group/message board and re-posted here so others can learn from it.

 

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