W9 Form Printable West Virginia – The W-9 form is an Internal Revenue Service (IRS) tax form that is used to verify a person’s name, address and taxpayer identification number (TIN) to verify reasons of employment or for other income-generating activities. It is possible to request confirmation by a person who is defined as a U.S. citizen or a person who is a resident in the United States or as an alien. The form W-9 is also called an Application for Taxpayer Identification Number and certification form.
What Is Form W-9 Used To Do?
The information provided on the form W-9 is often used to produce the Form 1099. The form 1099 contains details regarding income earned by the TIN holder, that isn’t typically reported on a W-2. This could include income earned as part of a contractor real property transactions, dividends on investment, and other financial transactions.
Are you an employee or an independent contractor?
Employers are required to withhold income tax and also withhold Social Security, Medicare, and unemployment taxes to employees. However, this won’t be the case if your are an independent contractor. That means your employer is responsible for Social Security and Medicare taxes. If you’re laid off, then you won’t be eligible for unemployment compensation.
Do I have to sign Form W-9
Yes. Yes. The IRS is obligated for businesses to collect W-9 forms that are completed from every person who has paid more than $600 per year. The IRS could impose fines on you if you fail to comply.
If you think the person requesting the form is not legitimately soliciting it, even, refusal is probably the best option. If you’re concerned, ask a tax professional to tell you what you need to do.
The Bottom Line
Forms for W-9 can be utilized by independent contractors (also known as freelancers). It is essential to fill out the correct form, but only if it’s the right form to fill out and the request has been approved. W9 Form Printable West Virginia