Who issues w9

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Table of Contents Expand. Key Takeaways The W-9 is an official form furnished by the IRS for employers or other entities to verify the name, address, and tax identification number of an individual receiving income. The information taken from a W-9 form is often used to generate a tax form, which is required for income tax filing purposes. The information collected by an entity on a W-9 form cannot be disclosed for any other purpose, under strict privacy regulations.

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Compare Accounts. The offers that appear in this table are from partnerships from which Investopedia receives compensation. This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace. You will also have to submit new W-9 forms any time you change your name, business name, address or tax ID number. Filling out a W-9 is pretty straightforward.

The business that hires you should fill in its name and employer identification number EIN. This should be your full name. It should match the name on your individual tax return. If you have a business name, trade name, DBA name or disregarded entity name, fill it in here. If you do not have a business, you can leave this line blank.

This section defines how you, the independent contractor, is classified when it comes to federal taxes. You will check the first box if you are filing as an individual, sole proprietor or single-member limited liability company LLC owned by an individual and disregarded for U. Taxes apply to single-member LLCs in the same way. You do not need to fill in this section as an individual. Only certain businesses or entities with any reason for exemption need to fill out these spaces.

This should apply to most entities. This is known as backup withholding. Your client, bank or other financial institution have to send you a W-9 themselves if they need you to fill one out. W-9 is a one page form from the IRS. It also comes with five pages of instructions. The part that you have to fill out looks like this:.

When someone wants you to send them a W-9, this is what they want from you: either a social security number SSN or an employer identification number EIN. If your business has any employees or operates as a corporation or partnership, it probably needs an EIN to do business and file with the IRS properly. Some accountants will even suggest collecting a W-9 before issuing any payments at all, to encourage people to file up-front.

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