Federal Tax Form W-9 2021 – The IRS forms W-9, Request for Taxpayer Identification Number (and Certification) are all generally used. If you have your own company or function as an independent contractor, a client may request that you fill out and send a W-9 so they can accurately prepare your 1099-NEC form and report the payments they make to you at the end of the year. Federal Tax Form W-9 2021
What is a Federal Tax Form W-9 2021 ?
The W-9 (Request for Taxpayer ID Number and Certification form) provides a company with the essential personal information about an independent contractor or freelancer in order to file tax returns in the United States. The form requires info such as the IC’s name, address, and social safety number (SSN). The data is used to generate a 1099-MISC. The W-9 Form is an important tool for employers to collect info about contractors for income tax purposes. To ensure you collect accurate individual info, verify it and maintain it updated.
Annually, you should review and update Form W-9. You may need to record any changes in address or names supplied by contractors. This form ought to be retained for a number of years by the business. The Internal Revenue Service should not have it. You ought to keep in mind that the 1099 is used to provide particular information to a company.
Sending form W-9
Send the W-9 form completed to the company or individual who requested it. The completed form will probably be kept in the company’s files so they are able to reference it throughout end-of-year accounting. Federal Tax Form W-9 2021