W9 Form Printable Connecticut – The W-9 form is an Internal Revenue Service (IRS) tax form used to verify the name, address as well as taxpayer identification number (TIN) to be used for employment or other income-generating purposes. The confirmation is available from an individual identified as an U.S. citizen or a person defined as a resident or an alien. The W-9 form is known as A Request for Taxpayer Identification Number and Certification form.
What’s the purpose of Form W-9? To Do?
The information obtained on the form W-9 is frequently used to create an alternative version of Form 1099. A 1099 form includes information about any income that may be received from the TIN holder but would not normally be listed on a W-2 form. This includes income received as part of a contract, certain real estate transactions, dividends paid against investments, and other financial transactions.
Employee or Independent Contractor?
Employers will withhold income taxes and withhold and pay Social Security, Medicare, and unemployment taxes on employees. If you’re an independent contractor, it isn’t. That means you’ll be responsible for the employer’s portion of Social Security and Medicare taxes but you won’t be eligible for unemployment compensation should you be laid off.
Can I choose not to sign Form W-9?
Sure. Yes. The IRS is obligated for companies to obtain the W-9 form completed from every person who has paid at least $600 in the year. You may be subject to fines if you fail to comply.
If you believe that you know that the person asking for the form doesn’t have a legitimate reason for asking for it, though, refusal is probably a good idea. If you’re worried, you can ask the tax expert what you should do.
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 certain it’s the proper form to fill out and that the form is legitimate. W9 Form Printable Connecticut