Everyone who works as a freelancer or independent contractor and receives more than six hundred dollars per one tax year is obligated to file the IRS form w-9.
But don’t make the mistake of sending the sample to the Internal Revenue Service. This is only a supporting template, used by an organization or individual who pays money for services. That information is then included on their tax report documents. It also helps to provide information both about your earnings and the spendings of the company simultaneously.
The w9 form 2019 allows for the reporting of money earned like this since self-employed individuals and independent contractors are taxed with another procedure than average employees. In most cases, the company or organization you work with sends you this sample when you agree to officially be hired.
How to Complete the PDF Template Online?
The PDF blank is simple to fill out and takes up less than one page. The content of the sample is also easy to be added with help with online editors.
We prepared some tips for every person, completing the fillable w9 online :
- Prepare all the documents, needed for the blank w-9 form. Be sure you also accurately insert your Taxpayer Identification Number.
- Remember that the name and business name are not always the same. Those who are not engaged in any business can simply provide their personal names.
- Be careful when identifying yourself, at least from a tax payment point of view. For example, by being an independent contractor, you still can be the sole proprietor of an LLC. Also, it’s important to include the type of corporation classification your business belongs to. There are three major types of corporations:
- C-corporation;
- S-corporation;
- partnership.
- If you're not sure, in most cases, it means that you belong to the sole proprietorship characteristic.
- If your firm has an exemption for any reason, for example, from backup withholding, you should provide the corresponding letter code. Those who are not sure about this part of the template can apply to the third page of the document containing detailed instructions about exemptions.
- Sometimes, the company working with you may be obligated to file the percentage of the money you earn to the Internal Revenue Service. If you will undergo the backup withholding, then you will be informed about it.
- Be careful before providing your personal and tax details to any person and organization. Examine, if a w9 form is really needed when someone asks you.