W9 Form Printable Massachusetts – A Internal Revenue Service tax form known as a W-9 is used to confirm the name and address of an individual. A confirmation form can be requested to either a U.S. citizen, or an alien resident. Also called the Request for Taxpayer Identification Number and Certificate form, the W-9 form is available for request.
What’s the purpose of Form W-9? For?
Most often, the W-9 data is used to make Form 1099. The 1099 form contains information regarding income earned by the TIN holder, that is not typically listed on the W-2. This includes earnings received as part of a contract, certain real estate transactions, dividends against investments, and other financial transactions.
Are you an employee or an independent contractor?
Employers can withhold tax on income and also withhold and pay Social Security, Medicare, and unemployment taxes to employees. If you’re an independent contractor it will not. It means that you’ll have to pay for the employer’s share of Social Security and Medicare taxes, and that you won’t be eligible for unemployment compensation when you’re laid off.
Can I choose not to fill out Form W-9?
Yes. Yes. Companies are required to the IRS to get a signed Form W-9 from anyone they pay $600 or more to in the course of the year. Failure to comply can be a cause for fines.
If you believe that the person who requested the form isn’t legitimately having it, however it is possible to refuse, then refusing is an excellent idea. Talk to a tax expert if you have any concerns.
The Bottom Line
The W-9 form can be used by independent contractors (also called freelancers). It is essential to fill out the form correctly–but only if you’re certain that it’s the correct form to be submitted and that your request is legit. W9 Form Printable Massachusetts