Sunday, August 24, 2008

What is form W9 (W-9)

I have seen a lot of questions recently about form W9, so I want to try to talk about this form in this post.

Q: What is form W9?
A:The internal revenue service (IRS) created Form W-9 to be used by an entity (company for example) to request the taxpayer identification number (TIN) of a U.S. person. Most often, Form W-9 is sent to self-employed persons such as independent contractors.Failure to provide a Form W-9 when requested may lead to backup withholding or withholding at the 30% rate typically applied to foreign persons.

Q: Where can I get a copy of form W-9
A: A PDF copy can be found on the IRS website: http://www.irs.gov/pub/irs-pdf/fw9.pdf

Q:Is the TIN different from my social security number?
A: For individuals, the TIN is generally a social security number (SSN). In some cases, individuals who become U.S resident aliens for tax purposes are not eligible to obtain a SSN and need to apply for an ITIN.

Good Luck,
Rob

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