W-9 IRS document was developed by the bureau to control independent contractors’, vendors’ and freelancers’ taxation. It asks for your TIN, business name, entity type and some other personal data. This information has to be protected, so that it won’t be used for fraud. This article will explain where to furnish W-9 and what happens with your data after you’ve sent it.
Who is the recipient of W-9 IRS document?
The first thing you should know is that you don’t have to file it to IRS. The recipient is a company or individual who asked you to complete the blank. So, you have just to send it back when it is filled and signed.
But what about personal information? If you are sure you really have to complete the document, there is no need to worry about it. All the data you’ve entered will be used to report to IRS via 1099-MISC. You’ll also get a copy. Note that a deadline for 1099-MISC is January, so you have to furnish W-9 no later than December.
Where to get a blank?
In most cases the requester will provide you with it. If not, there is a form to download on IRS website. Make sure you choose the latest version. You can select whether form printable blank or fillable IRS online document. In case you’ll send it via post services, try to get forms to print and fill out as soon as possible, cause delivery will take more time.
How to complete the blank correctly?
The following spreadsheet will help you fill W-9 form 2019 without any mistakes.
|№||Step||What to do|
|1.||Get a form to fill||Go to IRS website ore use the one provided by the requester.|
|2.||Enter your name||Write it as it’s shown in your Income Tax Return. Give your business name in point 2, if it’s different from the one mentioned above.|
|3.||Choose entity type||Check the box, which suits your business model.|
|4.||Enter codes that show you’re exempt from backup withholding and FATCA reporting (if any)||See W-9 instructions for exempt payee and FATCA reporting.|
|5.||Enter your address||Complete items 5 and 6 using your full address, city, state and ZIP code|
|6.||Give your TIN||There are special boxes in Part I to fill the numbers. TIN is mostly SSN for individuals and EIN for companies. ITIN or ATIN may also be used in some situations. See the Instructions part for detailed information.|
|7.||Sign the form||Put your signature in Part II. You can also cross out line 2, if it’s required. Learn more about it in Certifications instructions.|
|8.||Send the blank to the requester||Use only secure channels to furnish the document.|
Note that some companies, institutions, cities and states may have W-9 substitutes like the one for NYC. The guide above can also be applied to such documents. Even if they look in a different way, they’ll still have all the essential parts, which are required from the blank.