Irs W-9 Form 2021 – The IRS forms W-9, Request for Taxpayer Identification Number (and Certification) are all commonly used. A client might request that you total and send a W-9 if you own a company or function independently. This may permit them to accurately prepare their 1099-NEC forms and report any payments made to you at year’s finish. Irs W-9 Form 2021
What is the W-9 Form?
The W-9, also recognized as Request for Taxpayer Identity Number and Certificate, is a form that offers companies with personal info regarding an independent contractor (IC), or freelancer, for tax purposes in the United States. The form asks for info such as the IC’s name, address, social security number (SSN), and much more. The information is used for generating a 1099-MISC. Employers have to have the W-9 form in location to obtain info on contractors for income-tax purposes. The W-9 Form is an essential tool for employers to collect correct information about contractors.
Each year, the W-9 form ought to be reviewed and amended. It is possible to help keep the W-9 if you obtain a contractor’s updated address or name changes. This form should be retained for several years by the business. It should not visit the Internal Revenue Service. If the contractor earns much more throughout the tax year, it is only a tool that may be used to gather the particular information that a company must fill out 1099.
Submitting the Form W-9
Just return the W-9 form filled out to the requester. They will generally keep the completed form in their file for reference during their end year accounting, so that they are able to issue an precise Form 1099-NEC. Irs W-9 Form 2021 is there a new w 9 form for 2020