W9 Form Printable Missouri – A W-9 form can be described as an Internal Revenue Service (IRS) tax form that is used to verify the identity of a person’s address, name and taxpayer identification code (TIN) in order to prove reasons of employment or for other income-generating activities. The confirmation is available from an individual identified as a U.S. citizen or a resident alien. Also called the Request for Taxpayer ID Number and Certificate form, a W-9 form is available for request.
What does Form W-9 serve for?
The W-9 information is used to make Form 1099. The 1099 form provides information regarding any earnings that might be received by the TIN holder , which would not normally be listed on a W-2 form. This can include earnings that are part of a contract, real property transactions, dividends on investment, and other financial transactions.
Are you an independent contractor or employee?
Employers are required to withhold income tax and 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 the employer will be responsible for Social Security and Medicare taxes. If you are laid off, you won’t be eligible for unemployment compensation.
Do I have to sign the Form W-9?
Absolutely. Yes. The business is required from the IRS to obtain a completed Form W-9 from anyone they pay $600 or more to in the course of the year. The IRS could impose fines on you in the event of not complying.
If you believe that the person requesting the form has no business asking for it, though refusing is likely to be an excellent idea. Contact a tax professional should you have any questions.
The Bottom Line
W-9 forms are for independent contractors, also called freelancers. It’s essential to complete the form correctly, but only when you’re certain that it’s the correct form to fill out and that the application is legitimate. W9 Form Printable Missouri