W9 Form Printable Kansas – An Internal Revenue Service tax form known as a W-9 is used to verify the name and address of an individual. The confirmation is available from an individual identified as a U.S. citizen or a person who is a resident of another country. The form W-9 is also known as an Application for Taxpayer Identification Number and Certification form.
What Is Form W-9 Used for?
Most of the time, the W-9 information is used to make Form 1099. The 1099 form contains information regarding the income earned from the TIN holder which is not usually listed on the W-2. This includes income received as part of a contract, certain real property transactions, dividends on investments, and various other financial transactions.
Are you an employee or an independent contractor?
If you’re an employee your employer will withhold tax on income as well as withhold and pay Social Security and Medicare taxes as well as pay unemployment taxes on your wages. If you’re an independent contractor it isn’t. This means that the employer will be responsible for Social Security and Medicare taxes. If you are dismissed, you won’t be eligible for unemployment benefits.
Do I have to sign Form W-9?
Yes. Yes. Companies are required to the IRS to obtain a completed Form W-9 from anyone they pay $600 or more to in the course of the year. There could be fines in the event of not complying.
Refusing to sign the form is a wise choice if the person who requested the form is not legally entitled to making the request. Contact a tax professional should you have questions.
The Bottom Line
Forms W-9 are used for freelancers, also known as freelancers. It’s essential to complete the correct form, but only if you’re certain that it’s the correct application form and that the form is legitimate. W9 Form Printable Kansas