W9 Form Printable New Hampshire – A Internal Revenue Service tax form known as a W-9, is used to verify the identity of a person’s address and name. This confirmation can be requested for an individual who is identified as an U.S. citizen or a person who is a resident or an alien. Also called the Request for Taxpayer Identification Number and Certification Form, the W-9 is available.
What’s Form W-9 Useful To Do?
Most often, the W-9 data is used to create Form 1099. The 1099 form contains information about the amount of income that is earned from the TIN owner, that isn’t typically reported on the W-2. This can include, but is not limited to income that a person receives through the terms of a contract; certain real estate transactions as well as dividends received from an investment; and various other financial transactions.
Are you an independent contractor or employee?
Employers can withhold tax on income as well as withhold and pay Social Security, Medicare, and unemployment taxes to employees. This isn’t the case if you’re an independent contractor. It means that you’ll have to pay for the employer’s portion of Social Security and Medicare taxes but you won’t be eligible for unemployment insurance if you are laid off.
Can I refuse to complete Form W-9
Yes. If you refuse in response to an legitimate request, your client could withhold taxes from your paycheck at an amount of 24%.10 The department that handles accounting might also find you a pain and inform your contact not to conduct business with you again. The IRS is obligated to companies to request W-9 forms that are completed from each person who pays more than $600 during the year. There could be fines in the event of not complying.
Refusing to sign the form is a wise choice if the requester isn’t qualified for doing this. If you’re worried, ask an expert tax advisor about what you can do.
The Bottom Line
W-9 forms are meant for independent contractors, also called freelancers. It’s essential to complete the form correctly, but only when you’re confident that this is the correct form to be submitted and that your request is legit. W9 Form Printable New Hampshire