W9 Form Washington 2022

W9 Form Washington 2022A Internal Revenue Service tax form called a W-9 can be used to verify a person’s name and address. A confirmation form can be requested to either a U.S. citizen, or an non-resident alien. Also known as the Request for Taxpayer ID Number and Certificate form, the W-9 form is available.

W9 Form 2022 Fillable Editable Printable

What is Form W-9 used To Do?

The information gathered on a W-9 form is most commonly used to make a version of Form 1099. Form 1099 provides information regarding the income earned from the TIN owner, which is not usually listed on the W-2. This could include, but is not restricted to, income received by a person as part of the terms of a contract as well as certain real estate transactions or dividends on an investment; and various other financial transactions.

Are you an independent contractor or employee?

If you’re an employee, your employer will withhold tax on income, withhold and pay Social Security and Medicare taxes as well as pay unemployment taxes on your wages. If you’re an independent contractor it won’t. This means that you’ll be accountable for the employer’s portion of Social Security and Medicare taxes but you won’t be eligible for unemployment benefits when you’re laid off.

Do I have to sign Form W-9?

Certain. If you do not respond to a legitimate request, your client could withhold taxes from your paycheck at the rate of 24%.10 The department that handles accounting could be able to see you as a nuisance and tell your contact not to engage in further business with you. The IRS has a strict obligation to companies to request W-9 forms that are completed from each person who pays more than $600 during the year. The IRS could impose fines on you in the event of not complying.

If you believe the person requesting the form isn’t legitimately soliciting it, even refusing is likely to be an ideal choice. If you’re worried, you can ask a tax professional about what you can do.

The Bottom Line

W-9 forms can be used by freelancers (also known as freelancers). It’s crucial to fill in the form correctly–but only if you’re sure it’s the right application form and that the request is legit. W9 Form Washington 2022