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Posted By

FELIX HIGGINS (Southfield, MI)

Category

Roofing

Posted Date

2/7/2018 12:00:00 AM

Forum Title

Why Insurance companys request your tax id number!!!!

Me and another roofer are arguring about this question? When you are hired to do a roof and the insurance company is paying and not the homeowner because the damages were caused by a natural disaster. Why does the insurance company want the contractor to fill out a request for taxpayer identification Number and Certification Form. If you are charging 20,000.00 to complete the roof and the insurance company pays you that much doesnt the insurance company report that they paid you that much money ti IRS and then you will have to pay taxes on all of it (or the profit). This other roofer is saying because he did not charge the homeowner any taxes he does not have to pay any taxes to Irs. What is your take on this? I need to know how this works and why they request your tax id # and what they do with it. Your response to this question is greatly appreciated.
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