Why is it necessary to complete a W-9 and a 1099 miscellaneous form to participate in the project?

Landowners, who participate in the Sustainable Forestry and Land Retention Program and receive financial assistance for forestry practices and/or legal assistance cost reimbursement, are required to complete the IRS form W-9 before any payments are issued. In order to comply with reporting requirements issued by the IRS, Roanoke Economic Development, Inc. is required to issue IRS form 1099-MISC to any landowner receiving more than $600 during any year from the program. Please consult your CPA or tax preparer in reference to filing miscellaneous income.