Form W-9
Form W-9
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Fillable Printable IRS W-9 Form 2018-2019

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What Is A W-9 Form?

When you hire independent contractors or freelancers and pay them, then you have to deal also with some documentation to record such expenses and inform the IRS about them. The basic paper primarily necessary in this matter is w-9 tax form. You have to provide individuals with this legal instrument to collect their personal data, identification number and some other details. You have to keep this information and then together with other required forms forward it to the Internal Revenue Service at the end of fiscal year. Continue reading to learn more.

How to Prepare A Sample?

Since the exchange of documents and correspondence mostly takes place on the Internet it would be much reasonable to create w-9 forms online. With the help of digital means you can easily organize all necessary information and share it. Electronic samples may be customized, signed and sent by email, fax or sms so that you could greatly save your time and efforts. You can add your signature by typing, drawing or uploading. Download the newly created file to your device (whatever PC, laptop, or smartphone you use) to have access to it wherever and whenever is needed. Click ‘Start Now’ and fill out empty lines and boxes. When it comes to the current template, it will take about 5 minutes to complete it online.

Who is Supposed to Create The W 9 Tax Form?

Both parties - an entrepreneur and an individual contractor are directly involved in preparation. As a superior you have to keep all important data and taxpayer identification number to avoid any claims and suspicious questions from the IRS. Filling the file will help you to track relevant information and use only correct details. A freelancer who wishes to build strong and trusting relationship with the hirer is also interested in the document proper preparation.

When You Have to Deal with The W 9 Form?

It is important for the employer to have each worker fill out and download the file as early as it is possible. You’d better to provide a contractor with the printable blank for filling immediately after you hired them. An employee has to complete it and forward to you. All you need is to keep the records. At the end of the fiscal year you have to submit the current file to the IRS and attach 1099 MISC and W-2 as needed. It is necessary to use new templates each year due to changes in data and requirements. For example, in 2018 form w-9 you will notice some updates in fields and instructions. Follow them to avoid any misunderstanding.

What Information to Provide in The Online Form W9?

Read all the field labels to enter appropriate and correct details. Read the following instruction to clarify main points and make the filling process even more quick and simple.

  1. Provide your name as shown in your income tax return.
  2. Your business name.
  3. Check the appropriate box for federal tax classification.
  4. Insert exempt payee codes if any.
  5. Enter your address, city, state and ZIP code on lines 5 and 6.
  6. List account numbers (optional).
  7. Specify requester’s name and address (optional).
  8. Indicate your TIN.
  9. Put your signature and current date.

Once you’ve completed, check data on errors and correct them before signing. Download the document to your device and then send it to your superior. The blank is printable so you can bring it personally as needed.

All things considered, tax forms w9 will not make any troubles to you thanks to digital means.

Use printable templates to eliminate workflow hassles and save your time as well as nerves.

FAQ

Where do I get a W-9 Form?
Most often, the requesting party provides the form to the applicant. You can receive it by e-mail and download the printable PDF template to your computer. Since freelancers mostly work remotely from another city or even a country, you can prepare a report electronically for your convenience. You can find a fillable sample on the web, complete and sign it online and send it to the recipient right away. This saves you time and effort. But remember, you need to choose a reliable PDF editor that will protect your personal info. Your Social Security Number is very important and may be stolen. Proven and reliable online platforms use high-level data protection technology. Choose the right one!
What is the deadline for filing a Form W-9?
There is usually no time limit for completing the form W-9. However, companies are required to withhold 24% of any payment and transfer it to the IRS if you don’t provide them with the completed document. Therefore, most companies will withhold the payment until they receive the concluded template to avoid withholding. In some cases, they wait until the year ends to ask for a Taxpayer Identification Number to give you your tax documents (for example 1099). The client company needs to obtain your taxpayer data to submit a 1099-MISC information return and inform your identity to the tax service. The IRS has created the W-9 to obtain TIN numbers from those to whom they make payments.
What is the difference between a W-2 and a W-9?
W-2 is used for employment. Your employer is responsible for withholding taxes. The form contains the exact amount of money paid to the employee and the amount of taxes paid on his or her earnings during the year. The blank is to be distributed to other people in order to inform them about income taxes and retention. W-9 is for contract work purposes and provides data on taxpayer identification. There is no withholding of taxes. You are considered to be self-employed. You can benefit from the online filing of the document. The instructions are the same as when you complete the paper form W-9. Please contact your local accountant or tax consultant if you have any questions about your TIN or status of registration.
When do I need to submit a W-9 as a freelancer?
Freelancers can work with companies directly or through special online platforms for customers and performers. In any case, if you are a U.S. citizen or resident and receive income from your work, you will need to fill out a W-9 tax form. Freelancers are increasingly switching to online market orders. It's very easy and doesn’t take much time. The most important thing is that you create your account correctly and are able to work effectively. But you should remember, if your account's revenue reaches a minimum level of payment (usually from $10), you will not receive payment from the online job marketplace until you have completed and submitted a W-9 for your account. Usually, you can email the form, fax it or send it by USPS. You can do all of this without having to leave your web browser. When you change your name, convert your personal account into a company account or vice versa, you will need to send an updated template to both the market place and your customer.
What form should I use? The W-9 or the W-8BEN?
All freelancers who are U.S. employees must file the IRS form W-9. All other independent contractors must file Form W-8BEN. This means that you have to choose the second template if you are not an American citizen or resident, but work for a U.S. company. If the W-8BEN suits you, then you will be asked to complete several fillable fields. The non-resident performer can fill in the minimum — boxes 1-3 and add a signature. You can send the form electronically directly from your browser. Remember that according to the Internal Revenue Service definition, the W-8 is valid for 3 calendar years. If your last declaration was accepted more than 3 years ago, you must file a new one even if your personal information remains the same. This should be done before you process your next income payment. If you don’t update your template by the next payment cycle, you probably won’t be paid. You can sign the form electronically and email it to the recipient.
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