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Summarize, translate, proofread contents with AI..Form W-9 is a file that a third party who have to provide into the United States income tax system. IRS form W 9 requests the taxpayer's name, taxpayer identification information and the taxpayer's address. If you have your own business, an independent consultant or an independent contractor, consultant or another self-employed worker, you need to provide your W 9 form. If you or your company contracted to offer service to another business, you will be asked to complete W-9 tax form.
W-9 Form Purpose: Businesses that are hiring independent workers don't reserve income tax or pay Social Security taxes and Medicare for their independent workers, as they do for the permanent workers; workers are responsible for these responsibilities. But the IRS still would like to know how much these workers are being paid in order to ensure that the workers are paying the taxes they are obliged, and it makes use of form 1099-MISC to collect this information. Businesses don't send form W-9 to the IRS.
Step 1: Download W-9 form and open it with a browser or PDF editor. Filling up a W-9 with Wondershare PDFelement - PDF Editor Wondershare PDFelement Wondershare PDFelement is pretty forthright. It makes it easy for you to fill out and sign the W-9 form. You can make the modification anytime you need on Windows, Mac, and even your mobile device, as PDFelement works across different devices.
Step 2: Write in your name the same as what is shown on your tax return.
Step 3: Write in the name of your business or "disregarded entity" name, it is not the same as the one in step 1.
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Step 4: Write in what kind of business entity you are for federal tax classification: partnership, sole proprietorship, S Corporation, C Corporation, Limited Liability Company trust/estate, etc.
Step 5: Exemptions. There is a big possibility that you are going to leave these boxes blank. Here are some boxes that you might not answer:
Payees that are exempted from backup withholding, like corporations might have to put in a code in the "Exempt payee code" box.
Payees that are exempted from reporting below the FATCA or Foreign Account Tax Compliance Act might have to enter a code in the "Exemption from FATCA reporting code" box.
Step 6: State your address, complete with city, street address, state, and zip code. If your home address if different from your pace of business, you should use the address that you'll use on the tax return.
Step 7: In Part I you have to offer the tax identification number (TIN) of your business that will either be your unique Social Security number (SSN) if you own the business alone or sole proprietorship, or your employer identification number (EIN) if your business is another type. But you have to know that some sole proprietorship also have EINs, but the IRS require sole proprietors to use their SSNs on form W-9.
Step 8: In Part II of the form, you have to swear that you're saying all the relevant truth in the form W-9. Lying intentionally on a tax form could mean that you will need to pay a fine or even get jailed; the IRS rules are not a joke.
Commonly, the business or financial institutions will give you a blank W-9, and you can complete it directly. Or if you or your business is asked to provide a fillable w 9 form to independent contractors, you can download the w 9 form directly from the IRS website. Here are some W-9 instructions:
1. Make sure the W-9 form you got is the right one.
2. If you are an employee, your employer will offer you the form. Any client who hires a freelance or independent contractor to work as a guest needs to provide the W-9.
3. To fill out Form W-9 is pretty simple. Your Social Security number, your name. The name of the businesses and their employer identification number are already left on the form.
4. To submit Form W-9, you must certify to provide your accurate and correct tax ID number to the IRS.
5. To deliver the completed form W 9, please ensure that it is delivered in a secure manner, like mail, hand delivery, or attached to an email with an encrypted file.
W 9 Form is a commonly used IRS form. It is used to provide taxpayer identification numbers and certifications. Entities and individuals use this form to offer taxpayer identification numbers to entities that pay their income tax during the tax year. The company will use your W-9 form for accounting purposes, but will not send it to the IRS. This information will be used to prepare the 1099-MISC form at the year of the end. If you are an independent contractor or self-employed worker, customers may ask you to provide a W-9 form so that they are able to accurately report their payment which they have made to you.
