answersLogoWhite

0

A company is required to file a Form W-9 when requested by another party that needs the company's taxpayer identification number (TIN) for tax reporting purposes. This form is typically used for independent contractors, freelancers, or vendors who will receive payments for services rendered. The requesting party will use the information provided on the W-9 to report payments made to the company to the IRS.

User Avatar

ProfBot

7mo ago

What else can I help you with?

Continue Learning about Accounting

Do corporations complete a w9 form?

Do corporations complete or file a w9 form.


What is w8 w9 forms?

A W8 form is an IRS form that is for foreign companies to withhold taxes. A W9 form is a form a company gives an individual so a 1099 can be sent at the end of the year. W9 forms are generally given to subcontractors.


What minimum payment amount does company need to request a w9 form from contractor?

600


Where online can I find a w9 form?

Go to the IRS' website and search for the w9 form in PDF format.


About the IRS W9 Form?

A W9 form is an Internal Revenue Service (IRS) document. It is used by companies and clients that hire independent freelancers and contractors. This form is not filed with the government. Earnings by employees are not recorded on the W9. The form is designed to collect data on independent contractors, such as name, contact information, taxpayer identification or social security number. The IRS permits you to create and use a substitute W9 form if the document is essentially the same as the agency's W9 form. You can get additional details on by checking the government's W9 instructions. Companies and clients use the data on the W9, or its allowable substitute, to generate a Form 1099. This form documents the earnings the client paid to its independent freelancers and contractors during that particular tax year. The issuer of the 1099 is required to send the form to the IRS and the contractor. Some states receive a copy for independent contractors working in their jurisdictions. Unlike the W4, the W9 does not authorize automatic withholdings for social security or other tax payments. Independent contractors are liable for the taxes assessed on their earned income. Contractors are usually required to make quarterly payments on their estimated taxes to the IRS and submit a Form 1040-ES. Consult your tax professional to determine whether your state also mandates quarterly payments. U.S. citizens and resident aliens working as independent contractors must have W9s. Foreign national contactors are required to complete a W8. Like the W4 the W9 must be signed, but the signature does not require witnesses. Freelancers normally complete the document or a copy of the original to the client or company. The IRS requires that you must have a W9 if payments to a freelancer exceed $600 in one year. You are not required to collect the information or maintain the form if the freelancer's compensation is less than that amount. You can download the W9 and instructions from the IRS website.

Related Questions

Do corporations complete a w9 form?

Do corporations complete or file a w9 form.


What is the account number required on the W9 form?

The account number required on the W9 form is typically the taxpayer identification number (TIN) of the individual or entity providing the form.


Is S-Corp Exempt from backup withholdling On W9 form?

An S-Corp is exempt from backup withholding on a W9 form. The backup withholding box on the W9 form is required for individual taxpayers and not businesses or corporations.


What is w8 w9 forms?

A W8 form is an IRS form that is for foreign companies to withhold taxes. A W9 form is a form a company gives an individual so a 1099 can be sent at the end of the year. W9 forms are generally given to subcontractors.


What minimum payment amount does company need to request a w9 form from contractor?

600


What information is required to be provided when submitting a W9 form, including account numbers?

When submitting a W9 form, you need to provide your name, address, taxpayer identification number (usually your Social Security number), and certify that the information is correct. You do not need to include account numbers on the W9 form.


Is annual filing required?

A Partnership firm is not required to file its annual accounts with the Registrar each year unlike a Limited Liability Partnership or Company. Limited Liability Partnership's and Company's are required to file their annual accounts with Registrar of Companies each year.


What information is required to be included in W9 account numbers?

The information required to be included in W9 account numbers typically includes the taxpayer's name, address, taxpayer identification number (such as a Social Security number or employer identification number), and the type of entity (such as individual, corporation, or partnership).


Where online can I find a w9 form?

Go to the IRS' website and search for the w9 form in PDF format.


About the IRS W9 Form?

A W9 form is an Internal Revenue Service (IRS) document. It is used by companies and clients that hire independent freelancers and contractors. This form is not filed with the government. Earnings by employees are not recorded on the W9. The form is designed to collect data on independent contractors, such as name, contact information, taxpayer identification or social security number. The IRS permits you to create and use a substitute W9 form if the document is essentially the same as the agency's W9 form. You can get additional details on by checking the government's W9 instructions. Companies and clients use the data on the W9, or its allowable substitute, to generate a Form 1099. This form documents the earnings the client paid to its independent freelancers and contractors during that particular tax year. The issuer of the 1099 is required to send the form to the IRS and the contractor. Some states receive a copy for independent contractors working in their jurisdictions. Unlike the W4, the W9 does not authorize automatic withholdings for social security or other tax payments. Independent contractors are liable for the taxes assessed on their earned income. Contractors are usually required to make quarterly payments on their estimated taxes to the IRS and submit a Form 1040-ES. Consult your tax professional to determine whether your state also mandates quarterly payments. U.S. citizens and resident aliens working as independent contractors must have W9s. Foreign national contactors are required to complete a W8. Like the W4 the W9 must be signed, but the signature does not require witnesses. Freelancers normally complete the document or a copy of the original to the client or company. The IRS requires that you must have a W9 if payments to a freelancer exceed $600 in one year. You are not required to collect the information or maintain the form if the freelancer's compensation is less than that amount. You can download the W9 and instructions from the IRS website.


What is form w8?

A W8 form is an IRS form that is for foreign companies to withhold taxes. A W9 form is a form a company gives an individual so a 1099 can be sent at the end of the year. W9 forms are generally given to subcontractors.


Map of Sutherland avenue w9?

http://www.multimap.com/maps/?hloc=GB|w9%202he#map=51.52329,-0.19308|16|4&loc=GB:51.52329:-0.19308:16|w9%202he|W9%202HE