How to create IRS W-9 form?

Popular W9 form is used by businesses as the third party report delivering about contract agreement between vendors and freelancers. This paper is not sent to the IRS but it is used when filling out other documents such as 1099-MISC.

Free 2020 W-9 form printable or online digital blank

There are two ways to fill the document. The first one is to print it and to complete the hard copy. It requires some paperwork, but you won’t have any problems like adding new fields and saving the blank in the appropriate web format. You can then send it using post service or just deliver it hand-to-hand.

The second option is to download a digital version and to do everything online. You’ll have to electronically sign it and file via protected email or using a trustworthy web service for that purpose. Online method is always faster, but the hard copy is usually considered as the most secure one.

Who has to complete blank W-9 forms 2020 printable?

You’ll be asked to provide the document in several cases.

Who has to fill Why
Freelancers, independent contractors, vendors They’ve received $600 or more during the tax year from the requester.
Tenants If someone rents property with security deposit, a W-9 form to print out and fill is required.
Interest and other income recipients Individuals that are paid interest or other income from financial institutions also have to complete the blank.
Heirs A will executor requests heirs to provide it for taxation purposes.
Bank clients You may receive interest from your bank, so the document is required.

Purpose, instructions and help for beginners

The main purpose of free 2020 W-9 form printable is to confirm that freelancer have received payments from the requester, taxes verification and backup withholding status check.

Not all the freelancers need it — only those who receive more than $600 annually. Freelancers should be provided with document or print W9 form themselves, plus there’s a digital version option.



It can also be used:

  1. If the freelancer is the subject to backup withholding (it may be caused by several reasons), business has to withhold 24% tax from all future payments to him until the status changes.
  2. Some financial institutions need freelancer’s data in case of reporting other income types or interest.

How to fill it out?

Information requested includes name, Taxpayer Identification Number, business entity type, address and your signature.

Before getting a blank W9 printable version — there’s an online review option. Digital versions have to deliver the same information as IRS W-9 forms 2019 printable. Electronic signature should also suit the one you would place on a hard copy.

Tips:

  • File it before the requesting party will obliged to report your TIN is missing. Otherwise, a $50 penalty will be applied for each case.
  • There are no deadlines on completing blank W-9 2020 printable. You just have to furnish it before the requester files 1099-MISC. Still, companies often try to avoid 24% tax withholding obligation, so they’ll usually wait until individual provides it.
  • Non-profit & government agencies should be especially attentive since their tax filing differs.

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