Blank W 9 Form Pdf – An Internal Revenue Service tax form known as a W-9 is used to confirm the address and name of the person. This confirmation can be requested for either an individual defined as an U.S. citizen or a person who is a resident or an alien. Also called the Request for Taxpayer Identification Number and Certificate form, a W-9 form is available for request.
What exactly is Form W-9 used to do?
The information obtained on W-9 forms is often used to produce an equivalent of Form 1099. A 1099 form contains information about any income that may be received from the TIN holder but is not typically listed on the W-2 form. This includes earnings received as part of a contract, certain real property transactions, dividends on investments, and other financial transactions.
Are you an independent contractor or employee?
Employers are required to withhold income tax and also withhold Social Security, Medicare, and unemployment taxes on employees. If you’re an independent contractor, it won’t. That means you’ll be responsible for the employer’s portion of Social Security and Medicare taxes however you will not be eligible for unemployment compensation should you be laid off.
Can I refuse to fill out the Form W-9?
Yes. If you do not respond to a legitimate request, your client may withhold tax from your paycheck at the rate of 24%.10 The accounting department might be able to see you as a nuisance and advise your contact not to continue business with you. The IRS is obligated for businesses to collect W-9 forms that are completed from each person who pays $600 or more during the year. Failure to comply can result in penalties.
If you think the person who is requesting the form isn’t legitimately soliciting it, even it is possible to refuse, then refusing is an excellent idea. Talk to a tax expert if you have questions.
The Bottom Line
W-9 forms are for freelancers, also known as freelancers. It’s important to fill out the correct form, but only if you’re confident that this is the correct application form and that the form is legitimate. Blank W 9 Form Pdf