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W9 Form 2022 PDF

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W9 Form 2022 PDF Details
W9 Form 2022
PDF Name W9 Form 2022 PDF
No. of Pages 1
PDF Size 0.05 MB
Language English
CategoryEnglish
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W9 Form 2022

Dear readers, today we are going to offer a W9 Form 2022 PDF for all of you. A W-9 form is the IRS form. The full form of the IRS is (Internal Revenue Service) tax form. A w-9 form is used to confirm a person’s name, address, and TIN for employment or other income-generating purposes.

The full form of TIN is the (taxpayer identification number. Therefore a W-9 form is also known as a Request for Taxpayer Identification Number and Certification form. A W-9 form is a formal written request for information only that is used solely to confirm a person’s taxpayer identification number (TIN).

W9 Form 2022 PDF Key Information

  • Form W-9 is used to obtain taxpayer information to help with informational reporting to the IRS.
  • Form W-9 is most often used between independent contractors and companies they are working with, although it’s used in other situations as well.
  • The form requires a taxpayer to provide their name, address, tax classification, and withholding requirements.
  • The form must be signed, and the signing taxpayer is subject to civil and/or criminal penalties for willful non-compliance.
  • As the information on Form W-9 is sensitive, all parties should take caution in procuring, sending, and storing the form.

How to Fill Out Form W-9

Form W-9 is one of the most straightforward IRS forms to complete, but if tax forms make you nervous, don’t worry. We’ll walk you through the proper way to complete it.

All pages of Form W-9 are available on the IRS website. In addition, the form may include a specific set of instructions provided by the IRS.

Step 1: W-9, Line 1

Enter your name as shown on your tax return.

Step 2: W-9, Line 2

Enter your business name or “disregarded entity” name, if different from the name you entered for step 1. For example, you might be a sole proprietor, but for marketing purposes, you don’t use your name as your business name; instead, you are “doing business as” some other name. You would enter that name here.

A commonly disregarded entity type is a single-member limited liability company. Sole proprietorships and S corporations are never classified as disregarded entities.

Step 3: W-9, Line 3

Select which type of business entity are you for federal tax classification: sole proprietorship, partnership, C corporation, S corporation, trust/estate, limited liability company, or “other”. Check the appropriate box, and only one classification should be selected.

Step 4: W-9, Line 4

Exemptions. Chances are you’re going to leave these boxes blank. Here are a couple of exceptions:

  1. Payees that are exempt from backup withholding, such as corporations (in most cases), might need to enter a code in the “Exempt payee code” box. The Form W-9 instructions list the exempt payees and their codes and the types of payments for which these codes should be used.4 Corporations filling out a W-9 for receipt of interest or dividend payments, for example, would enter code “5.”
  2. Payees that are exempt from reporting under the Foreign Account Tax Compliance Act (FATCA) might need to enter a code in the “Exemption from FATCA reporting code” box.8 Neither of these boxes will apply to the typical independent contractor or freelancer.

Step 5: W-9, Lines 5-6

Provide your street address, city, state, and zip code. Use the address that you will use on your tax return. For example, if you’re a sole proprietor who rents office space, but you file your tax return using your home address, enter your home address on form W-9 so the IRS won’t have trouble matching your 1099s with your Form 1040.

In addition, the W-9 may be a company’s primary means of obtaining your personal information. As this information may get logged into their accounting system when you get set up as a supplier in their records, this address may be used to furnish your 1099 or mail your other important tax documents.

Step 6: W-9, Line 7

In this optional step, you can provide the requester’s name and address. You might want to fill out this box to keep a record of to whom you provided your tax identification number.

In addition, you have the option to list relevant account numbers at the end of this top section of the Form W-9. This account number section may be used to uniquely identify someone based on a number within the client’s system.

For example, someone may request you to fill out a Form W-9. As you happen to be supplier #45 in their records, they may ask you to make note of your supplier number on this line.

Step 7: W-9, Part I

The IRS calls the next section Part I.9 Here, you must provide your business’s tax identification number, which will either be your individual Social Security Number if you’re a sole proprietorship, or your employer identification number (EIN) if you’re another type of business.10 Now, some sole proprietorships also have EINs, but the IRS prefers that sole proprietors use their SSNs on Form W-9. Again, doing so will make it easier to match any 1099s you receive with your tax return, which you will file under your SSN.

What if your business is new and doesn’t have an EIN? You can still fill out a W-9 form. The IRS says you should apply for your number and write “applied for” in the space for the TIN. You’ll want to get this number as quickly as possible because, until you do, you’ll be subject to backup withholding. You can apply for an EIN at the IRS website. See the instructions below for Step 8, Part II, for more on backup withholding.

Step 8: W-9, Part II

In Part II, you must attest to the truthfulness of all of your information before you can sign Form W-9.9 Intentionally lying on a tax form could mean you’ll have to pay a fine or go to jail; the IRS doesn’t mess around.11 Before signing form W-9, here are the statements you must certify are true, under penalty of perjury:

1. The number shown on this form is my correct taxpayer identification number (or I am waiting for a number to be issued to me).

  • Taxpayers must use legit tax ID numbers. Using a “borrowed,” stolen, or made-up tax ID number would equate to lying under oath, and involve serious consequences.

2. I am not subject to backup withholding because: (a) I am exempt from backup withholding, or (b) I have not been notified by the Internal Revenue Service (IRS) that I am subject to backup withholding as a result of a failure to report all interest or dividends, or (c) the IRS has notified me that I am no longer subject to backup withholding.

  • Most taxpayers are exempt from backup withholding. If you have no idea what the IRS is talking about here, you’re probably exempt. If you aren’t exempt, the IRS will have notified you, and the company paying you needs to know because it is required to withhold income tax from your pay at a flat rate of 24% (as of 2020) and send it to the IRS.12 Incidentally, now you know another good reason not to cheat on your tax return: You might have to tell a future client about it, and that might make the company think twice about you. Item (c) says that if you were once subject to backup withholding but aren’t anymore, no one needs to know.

3. I am a U.S. citizen or other U.S. person.

  • If you’re a resident alien, you’re in the clear.13 The IRS also considers the following to be a “U.S. person”: a partnership, corporation, company, or association created or organized in the United States or under the laws of the United States; a domestic estate; and a domestic trust.
  • If your business is a partnership that has a foreign partner, special rules apply; read about them in the instructions to Form W-9. If you aren’t a U.S. citizen, you may need to fill out Form W-8 or Form 8233 instead. of 14

4. The FATCA code(s) entered on this form (if any) indicating that I am exempt from FATCA reporting is correct.

  • You probably won’t need to worry about this one, which has to do with the Foreign Account Tax Compliance Act.

Uses of Form W-9

The Form W-9 is used to prepare a range of various informational returns to the IRS. The most common situation occurs when an independent contractor completes work for a company and receives payments.

If that independent contractor receives more than $600 in a calendar year, they are required to be sent a Form 1099-MISC and self-report their taxes. The purpose of a Form W-9 extends beyond just this single situation.

A bank or financial institution relies on the receipt of taxpayer information to properly report Form 1099-INT, 1099-DIV, or 1099-B. A taxpayer may also be asked to furnish a Form W-9 to cancel the debt, student loans, or real estate transactions.

What’s the purpose of a w9 form?

The purpose of a W-9 is to gather tax information from a vendor. When a company pays a non-employee or other entity money more than $600 in a year for their service, the company must file an information return. To ensure the information returned is accurate, the purpose of a W-9 is to gather all required information directly from the vendor.

While some information is publicly available, Form W-9 protects the company trying to obtain the information by requiring the other party to sign the filled-out form.

The signature certifies:

  • the tax identification number (TIN) being provided is correct.
  • the other party is not subject to backup withholding.
  • the other party is claiming exemption from backup withholding.
  • the FATCA code used by the vendor (and the vendor’s exemption status)

Businesses use the name, address, and Social Security number or tax identification number contractors provide on Form W-9 to complete that information return. Neither the sender nor the recipient should send a copy to the IRS.1 In addition, the business requesting the tax information must safely secure copies of the form.

You can download W9 Form 2022 PDF by going through the following download button.


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