So, your question What is a form W 9? Has been answered. Again, file it personally if only you’re a freelance worker. Full-time employees shouldn’t do this, as they are provided with another IRS form: W-4.
Filling out the W9 Form is actually quite easy. The blank is straightforward, with every field being self-explanatory. So, to succeed with this mission, follow our Form W-9 instructions! Here’s what you need to do with W9 Form 2020:
Also, at your desire, you can name the requester in the fillable form W9. In other words, mention the person who asked you to provide the document. It serves as an extra safety measure: W-9 contains your Social Security number after all.
But to do all that, you’ll need to download W-9 Form. Luckily, you don’t need to hunt for it around the entire Internet — W-9 form in PDF is available right here. Totally legit and totally free!
But there are some nuances as well. First, you’ll need to get tax form W9 downloadable if only your annual revenue from freelance work is at least $600. Besides, sometimes free W-9 tax form is requested to record other income-generating sources: selling real estate, receiving profit from bonds, and so forth. Gambling and lottery don’t qualify, though.
Additionally, if you’re an independent contractor and you appropriately file the form W-9 online or by physical mail, you can qualify for more deductions for the work-related expenses. For instance, you may support a home office, pay for advertising, etc.
W-9 tax form is a document required by the Internal Revenue Service. If you’re asked to fill one that means your employer needs to know your Social Security number and other personal data. This info goes to IRS, so the government knows how much money you make annually.
But independent contractors are also compelled to send the IRS form W-9. So, if you’re a wedding photographer, freelance Farsi translator or SCV product manager — dealing with the form W-9 is unskippable for you.
So, to put it simply, tax form W 9 purpose is to make freelancers and indie-contractors accountable to the IRS. Full-time employees don’t file the form personally, as it’s done by default when they get hired.