W9 Form Printable Mississippi

W9 Form Printable MississippiA W-9 form can be described as an Internal Revenue Service (IRS) tax form which is used to verify an individual’s name, address as well as taxpayer identification number (TIN) for employment or other income-generating purposes. This confirmation can be requested by a person who is defined as an U.S. citizen or a person defined as a resident or an alien. The form W-9 is also known as A Request for Taxpayer Identification Number and certification form.

W9 Form Fill Online Printable Fillable Blank PdfFiller

What’s the purpose of Form W-9? To Do?

Most often, the W-9 data is used to create Form 1099. The 1099 form includes information regarding income earned from the TIN holder which is not usually listed on a W-2. This includes, but is not limited to, earnings received by a person under a contract and certain real estate transactions or dividends on an investment, and other financial transactions.

Are you an employee or an independent contractor?

Employers withhold taxes on income and also withhold and pay Social Security, Medicare, and unemployment taxes to employees. However, this won’t be the case if your are an independent contractor. This means that your employer is responsible for Social Security and Medicare taxes. If you are dismissed, you won’t be eligible to receive unemployment compensation.

Can I refuse to fill out Form W-9

Yes. If you do not respond to an legitimate request your client may withhold tax from your wages at 24%. 24%.10 The department that handles accounting might also consider you a hassle and tell your contact to refuse to conduct business with you again. The IRS has a mandatory obligation to companies to request a completed form W-9 from every person who has paid $600 or more during the year. Failure to comply can be a cause for penalties.

Refusing to sign the form is a best option if the person who requested the form is not legally entitled to doing so. If you’re worried, you can ask an expert tax advisor about what you can do.

The Bottom Line

W-9 forms are designed for independent contractors, also known as freelancers. It’s important to fill out the form correctly–but only if you’re sure it’s the right application form and that the application is legitimate. W9 Form Printable Mississippi

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