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What is a W-9 IRS Form?

What is a W-9 IRS Form? thumbnail
What is a W-9 IRS Form?

In the United States, tax forms are issued by the Internal Revenue Service (IRS). These forms are used by individuals, corporations and other entities to report taxable income. The W-9 is one such form.

  1. Definition

    • The W-9 is an information return filed with the IRS. It is commonly used by entities that hire independent contractors.

    Function

    • The purpose of the W-9 is to gather a payee's correct tax information, including name, current address, and taxpayer identification number (TIN). The TIN is a payee's Social Security number (SSN) or Employer Identification Number (EIN).

    Features

    • The W-9 is not directly collected by the IRS. It is used by an entity to gather a payee's tax information and subsequently included in that entity's 1099 form, which reports miscellaneous payments other than wages, typically those made to third parties or independent contractors. A W-9 also certifies that a payee is exempt from backup withholding.

    Considerations

    • Providing the correct taxation information on a W-9 is critical. If deemed incorrect by the IRS, a payee may be subject to backup withholding.

    Additional Information

    • Entities are allowed by law to create a substitute W-9 form so long as the substitute requests the same information, including name, address, TIN and information pertaining to backup withholding.

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