2015 Innovation Award Nominee: Avalara CertCapture W-9/W-8 Solution

A change in IRS regulations under FATCA has caused us to reexamine how W8/W9 forms have been collected. No longer can we just accept the vendors tax ID number and file 1099/1042 forms accordingly. The IRS has announced audits will begin on the backup paperwork to show compliance with the full process. The Avalara W8/W9 system allows companies to do mass mailings, catalog collected forms, build reports and also track expirations.

The key feature that improves efficiency is the online web portal that walks a vendor through the complicated W8 forms asking simple questions to allow them to complete exactly what is needed. No longer are they calling the requesting company and asking them how to complete the form (which they most likely do not know either) and they no longer need to review the complicated and overly detailed IRS regulations/instructions.

An automated solution for completing and collecting W8/W9 forms will ensure compliance with the new FATCA regulations, reduce paperwork, and improve the vendor experience by accelerating onboarding and payments. This is a significant new addition to the Avalara CertCapture product suite, extending the functionality beyond core Exemption Certificate Management automation capability and assisting tax and accounting professionals with other compliance issues.

Click here to see all of the other nominees for the 2015 Innovation Awards.