Form W-9, formally called "Request for Taxpayer Identification Number and Certification," is an IRS document used to provide necessary information to a person or company that will be making payments to another person or company
. It is commonly used when someone works as an independent contractor, freelancer, or receives income such as interest or dividends
. The purpose of Form W-9 is to help businesses obtain important information from payees to prepare information returns
. Key uses of Form W-9 include:
- Verifying a person's name, address, and taxpayer identification number (TIN)
- Generating a 1099 tax form, which is required for income tax filing purposes
- Reporting payments made to independent contractors, freelancers, or other individuals
Form W-9 is different from Form W-4, which is used for more traditional employment relationships and calculates tax withholding
. Form W-9 is also used in situations such as interest income, dividend income, and proceeds from the sale of assets
