W9 Form Printable Louisiana – A Internal Revenue Service tax form known as a W-9 is used to confirm the identity of a person’s address and name. It is possible to request confirmation for either an individual defined as a U.S. citizen or a person who is a resident alien. Also known as the Request for Taxpayer ID Number and Certificate form, a form called a W-9 is available.
What’s the purpose of Form W-9? for?
The information gathered on the form W-9 is frequently used to create a version of Form 1099. Form 1099 provides information about the amount of income that is earned from the TIN holder that is not typically listed on the W-2. This can include earnings that are part of a contract, real property transactions, dividends on investments, and various other financial transactions.
Independent Contractor or Employee?
Employers can withhold tax on income as well as withhold and pay Social Security, Medicare, and unemployment taxes on employees. This isn’t the case if you’re an independent contractor. This means that the employer will be responsible for Social Security and Medicare taxes. If you’re dismissed, you won’t be eligible to receive unemployment compensation.
Can I refuse to fill out Form W-9?
Sure. Yes. Businesses are under a strict obligation to the IRS to collect a completed form W-9 from everyone they pay $600 or more to during the year. Failure to comply can result in penalties.
If you believe that the person requesting the form isn’t legitimately making the request, but it is possible to refuse, then refusing is the best option. If you’re worried, you can ask an expert tax advisor for advice on what to do.
The Bottom Line
The W-9 form can be used by freelancers (also called freelancers). It’s important to fill out the form correctly–but only if you’re confident that this is the correct form to be submitted and that your demand is genuine. W9 Form Printable Louisiana