Is LTD equivalent or similar to LLC?
Question
One of our companies as sent us a W-9:
Name is ---------- LTD
They have marked as Corp and Exempt from Withholding.
I have matched with the IRS and the name and number matches.
I am under the impression that LTD is similar to LLC - and should be reportable.
Answer
The "eyeball test" has been tripping up information reporters for as long as it's been around. And for good reason. There is quite a bit of additional information hidden in the fine print of the regulation that makes the use of the "eyeball test" as not nearly simple as one would initially believe.