W9 Form Kansas 2022 – The W-9 form is an Internal Revenue Service (IRS) tax form that is used to confirm the identity of a person’s address, name and taxpayer identification number (TIN) to verify employment or other income-generating purposes. A confirmation form can be requested to either a U.S. citizen, or an alien resident. Also known as the Request for Taxpayer Identification Number and Certificate form, the W-9 form can be requested.
What is Form W-9 used To Do?
The W-9 information is used to make Form 1099. The 1099 form includes information about the amount of income that is earned from the TIN holder which is not usually listed on a W-2. This includes earnings received as part of a contractor real property transactions, dividends from investments, and various other financial transactions.
Are you an employee or an independent contractor?
If you’re an employee, your employer will withhold taxes on your income as well as withhold and pay Social Security and Medicare taxes as well as pay unemployment taxes on your earnings. This isn’t the case if you’re an independent contractor. This means that you’ll be accountable for the employer’s share of Social Security and Medicare taxes however you will not receive unemployment compensation should you be laid off.
Can I refuse to fill out Form W-9?
Sure. Yes. Companies are required to the IRS to request a completed Form W-9 from anyone they pay more than $600 for during the calendar year. You could face fines if you fail to comply.
If you believe you know that the person asking for the form has no business asking for it, though it is possible to refuse, then refusing is an excellent idea. If you’re concerned, ask an accountant for advice on what to do.
The Bottom Line
W-9 forms are for independent contractors, also called freelancers. It’s important to fill out the form correctly–but only if you’re certain that it’s the correct form to be submitted and that your demand is genuine. W9 Form Kansas 2022