2006-09-12 03:22:15 · 8 answers · asked by jafferymm 2 in Business & Finance ➔ Taxes ➔ United States
a W-9 is a form that an employer uses to request a "Taxpayer Identification Number". In places where you could use your Social Security Number, an employer or other entity can use a TIN, also a nine-digit number.
2006-09-17 11:59:02 · answer #1 · answered by Katie Short, Atheati Princess 6 · 0⤊ 1⤋
It can be confusing reading the tax publication. But lets c if i can put it in simpler terms. In my experience, if u are a independent contractor with any company, u will be ask to fill out a w-9. When a company askes u to fill out a w-9, it is only for them to know who they had paid and to report it on their tax return(the company). Now u on the other hand will get paid by the company, but no taxes will be withheld. At the end of the year, u will be issued a 1099Misc. (Earnings paid to employee) Now when u file ur taxes at the end of the year, a schedule c will have to be file with ur 1040. That means u are in charge of paying on the taxes on the earning ur recieve from the company. TIP- any expenses u accumulate during the time u work for that company, keep all reciepts to use for tax reasons. At other jobs, u will be told to fill out a w-4, on w4, these forms tell the employer how much tax to withheld from an employee. At the end of the year u will get a W-2. (summary of the taxes held and earnings earned.)
2006-09-12 04:55:54 · answer #2 · answered by csabrinam 3 · 0⤊ 0⤋
A person who is required to file an information return with the IRS, must obtain your taxpayer identification number to report items related to transactions between you and that person, such as income recieved from that entity, real estate transactions, and the like. There are rules as to when one can use this form to request a TIN from another person. For further information, read up on the instructions to the form, found at the IRS website.
2006-09-12 03:32:32 · answer #3 · answered by khurram_bajwa 1 · 0⤊ 0⤋
A W-9 is used to certify your US tax identification number. I believe you normally sign a W-9 when you're opening a financial account, a brokerage account for example. You're telling the financial institution what your tax id (ssn) is so they can report earnings, gains, etc. to you and the government.
The previous answer, certifying ssn for an employer, is also correct.
2006-09-19 13:54:32 · answer #4 · answered by cdogzilla 2 · 0⤊ 0⤋
The W-9 is an IRS form used to gather a payee's taxpayer identification number (usually, their social security number,) and a statement that the payee is not subject to "backup withholding." It is used by the payor to document that the information was requested as required by law.
2006-09-13 18:59:05 · answer #5 · answered by Scott K 7 · 0⤊ 0⤋
deep5223 has mistaken W-9 for W-4
2006-09-13 07:29:57 · answer #6 · answered by Tanya E 2 · 1⤊ 0⤋
It's purpose it to provide your empolyer with the tax bracket you are in so they will know how much to deduct from your paycheck for income taxes.
2006-09-12 03:25:45 · answer #7 · answered by deep5223 4 · 0⤊ 4⤋
http://www.irs.gov/pub/irs-pdf/iw9.pdf
2006-09-12 03:30:10 · answer #8 · answered by B F 2 · 0⤊ 0⤋