98 W9 Tax form a red flag to indicate that a WH should ultimately need to be completed

It is not always a red flag if a tax identification number (TIN) on a W9 tax form begins with the sequence 98. However, it may indicate that the individual or entity providing the form is a non-U.S. person or entity. Form W-9 is specifically used to gather TINs from U.S. persons or entities, including citizens, residents, domestic partnerships, and domestic corporations. If the entity is not domestic, you may need to request a W-8 form instead. There are different types of W-8 forms, such as the W-8BEN, W-8BEN-E, W-8ECI, or W-8IMY, depending on the entity's situation. It is essential to clarify the entity's tax residency status and determine the appropriate form to use. If you are unsure, consult with an accountant, tax attorney, or tax expert to advise on the appropriate steps to take.