Browsing: Form W-9

Form W-9, officially titled “Request for Taxpayer Identification Number and Certification,” is an IRS document used to collect a taxpayer’s identification information, such as a Social Security Number (SSN) or Employer Identification Number (EIN). It is commonly requested by businesses or financial institutions when paying independent contractors, freelancers, or other non-employee service providers. Unlike tax forms that are filed with the IRS, Form W-9 is not submitted to the IRS; instead, it is provided to the entity requesting it for record-keeping and tax reporting purposes. The information collected on this form is often used to generate Form 1099, which reports income paid to the taxpayer.

Businesses use Form W-9 to ensure compliance with tax regulations and avoid backup withholding, which requires withholding a percentage of payments if the taxpayer fails to provide a valid identification number. Financial institutions may also request this form when opening accounts or processing certain transactions. The form is straightforward, requiring basic details such as name, address, and tax classification. Proper completion of Form W-9 helps taxpayers and businesses maintain accurate tax records and fulfill reporting obligations.