IRS W-9 Form

IRS W-9 Form: What It Is and How to Fill It Out

If you are a freelancer, independent contractor, or small business owner, you may have been asked to fill out an IRS W-9 form at some point. The W-9 form is used by businesses and organizations to collect information about their contractors and vendors for tax reporting purposes. In this article, we will go over the basics of the W-9 form, what information you need to provide, and how to fill it out correctly.

What is an IRS W-9 Form?

An IRS W-9 form is a Request for Taxpayer Identification Number and Certification. It is used by businesses and organizations to gather information about individuals or entities they have hired or paid for services. The information provided on the W-9 form is used by the payer to prepare and file Form 1099-MISC, which reports the income paid to the individual or entity to the IRS.

Who Needs to Fill Out a W-9 Form?

As mentioned, businesses and organizations use the W-9 form to collect information about their contractors and vendors. If you are a freelancer, independent contractor, or small business owner who receives payment for your services, you will likely be asked to fill out a W-9 form by your clients or customers. This is because the IRS requires the payer to report payments made to individuals or entities for services rendered, and they need your information to do so accurately.

What Information is Required on a W-9 Form?

The W-9 form requires the following information:

  1. Name: The name of the individual or entity receiving payment.

  2. Business name/disregarded entity name: If the individual or entity is doing business under a different name, they must provide that name.

  3. Address: The address of the individual or entity.

  4. Taxpayer Identification Number (TIN): This can be a Social Security Number (SSN) for individuals or an Employer Identification Number (EIN) for businesses. If the individual or entity does not have a TIN, they must apply for one before filling out the form.

  5. Certification: The individual or entity must certify that the information provided is correct and that they are not subject to backup withholding.

How to Fill Out a W-9 Form

Filling out a W-9 form is straightforward. Here are the steps:

  1. Download the W-9 form from the IRS website or get a copy from your client or customer.

  2. Fill out the name and address sections with your information.

  3. If you are doing business under a different name, provide that name in the business name/disregarded entity name section.

  4. Enter your TIN in the appropriate field. If you are an individual and do not have an SSN, you can apply for one by filling out Form SS-5, which is available on the Social Security Administration website.

  5. Sign and date the certification section.

  6. Submit the completed form to your client or customer.

Conclusion

Filling out a W-9 form is a simple and necessary step in being paid for your services as a freelancer, independent contractor, or small business owner. By providing accurate and complete information on the W-9 form, you can ensure that your clients or customers can report their payments to you accurately to the IRS. If you have any questions about the W-9 form or need assistance in filling it out, consult a tax professional or the IRS website for guidance.