If you get fillable W9 form it means a company or a business you’re providing services to needs your SSN to notify the IRS about the money you’ve been paid for your work. The company then uses this information when completing 1099-MISC form that reports the amount of income paid to the employees. The form is also can be used by financial institutions that ask their customers to provide tax details necessary for filing different types of 1099s. But most commonly it is used by companies that hire individuals as an independent contractors not as employees.
Generally, most of the tax documentation is mailed to the recipient before the tax season begins. However there is no particular due date for your w9. So, when is a w9 required (when do I need a w9)? Let’s make it clear. In most cases, you will get the form when you start working as a freelancer. Make sure that you aren’t treated as an employee. Your work status is important because it defines who takes the responsibility for the taxes. If you are classified as an independent contractor you must manage your taxes on your own. Employees get under employer’s control and can have some financial benefits.
You will be asked to complete this form every time the information on it changes. Suppose, you’ve moved to a new place or contracted another company. You visit the IRS website, download printable w9 and make necessary changes on it. Once you’re ready, send the form to the company or a business you’re now working for. Make sure you know who is requesting this sensitive information and where it will be used. Never disclose your SSN, name or address if you doubt your work status or feel unconfident about the business hiring you.
This was a great service. I was able to create and print out my documents in just 5 minutes. The step by step process was a breeze. Thanks again!