What Is A W9 Form 2022 – The IRS generally uses Form W-9-Request for Taxpayer Information Number and Certification. When you work for a client, or if your business is independent, they may ask that you fill out and return a W-9 to make sure they can prepare the 1099-NEC form accurately and then report the payments you obtain at the close of the year. What Is A W9 Form 2022
What Is A W9 Form 2022
What is the W-9 Form?
The W-9, which is the Request for Taxpayer Information Number and Certification form, enables businesses to supply relevant individual info about an independent contractor, (IC), for tax purposes inside the United States. The form asks about the IC’s name and address. Additionally, it requests information like their social safety numbers (SSN), as nicely as other details. This info is used to make a 1099MISC. The W-9 Form is an important tool for employers to gather info about contractors for income tax purposes. To make sure you collect correct individual info, verify it and maintain it updated.
It is essential to review and update the Form W-9 every year. Contractors may provide you with updated addresses or name changes. These can be recorded for your future reference. This form ought to stay with the business for a number of decades. It should not be sent to the Internal Revenue Service. You ought to keep in mind that the 1099 is used to supply specific information to a business.
Submitting the Form W-9
The completed W-9 form should be returned to the company or individual who requests it. They’ll often keep the completed forms in their files so that they are able to issue a right Form 1099 -NEC at the finish of the year. What Is A W9 Form 2022 what is a w9 form needed for