What Is a W-9 Form 2023? And How to fill it up and where to send it for 2023?
The title of Form W-9 is formally Request for Taxpayer Identification Number and Certification. Companies utilize this form to acquire the Taxpayer Identification Number (TIN) from licensed contractors, suppliers, and freelancers. The firm likewise offers other personally recognizing details like your name and address.
The form functions as an arrangement in which you, as a licensed contractor or freelancer, are accountable for keeping taxes from your earnings. When you’re a full-time worker, your company holds some of your payments to cover federal earnings taxes and FICA taxes (which consist of Medicare and Social Security taxes). Companies do not make in which withholding for licensed contractors.
At the end of the tax year, the business you did work for will utilize the details on your W-9 to finish a 1099-MISC. This form describes all the payments made to you. A bank might likewise need you to report interest, dividends, and capital gains made by their clients.
PDF W-9 form printable
Most of the time, a business or bank will send you a blank W-9 form to finish before you start service with them. You can download a W-9 from the IRS site if you require to provide the form.
How to Fill Out W-9 Form
Filling out a W-9 Form is rather simple. The form itself is only around a half-page long, not including the instructions. Employers should enter their company’s name and employer identification number (EIN). After then, you’ll complete the form line by line.
- Line 1 – Name.
- Line 2 – Business name.
- Line 3 – Federal tax classification.
- Line 4 – Exemptions.
- Lines 5 & 6 – Address, city, state, and ZIP code.
- Line 7 – Account number(s)
- Part I – Taxpayer Identification Number (TIN)
- Part II – Certification
For a better understanding of how to correctly fill out your W9 please watch this video.
Who Has to Fill Out a W-9 Form?
W-9 forms are for self-employed employees like freelancers, independent service providers, and specialists. If your company sends you a W-9 rather than a W-4, the business has categorized you as an independent licensed contractor.
If you did numerous tasks for numerous businesses, you might fill out several W-9 Forms in the same year. Likewise, you will have to send brand-new W-9 forms any time you alter your name, organization tax, address, or name ID number.
Download W9 Form Printable 2023
This W-9 Form PDF is a fillable file that you can directly fill in and print out before sending it to your employer and keep one copy for yourself. Please Remember that you do not send IRS W9 Form to IRS.