Completing of this blank is mislead sometimes, and W-9 form is no exception. This specific trust paper is known as TIN the request and Certification and aimed to be used by individuals in Illinois and the whole US with purpose to provide of proper TIN to the one who is requesting it.
Form W-9 verifies the person has correct TIN or waiting for a number to be given and also that individual is not subject to backup restrain, or that the one is requiring releasing from backup withholding. Each employer is very familiar with this example completed, as they have to give the paper to those whom they have employed. Self-employed workers usually become familiar with the blank because they will typically receive one and will need to use it.
Tips for document use
The blank consists of four pages, but the fillable lines are on the first one. In the top section, the independent contractor should write his personal information, including his full name, company name, personal address, and tax classification.
In the second section of example W-9 form filled out, the individual has to add his employer identification or social security number.
Eventually, the freelancer has to sign the paper and indicate the date in the last section. When the new blank is completed, it is required to send it back to the employer or company requested it and it will be completed entirely.
Things to know before signing
It is needed to cross out paragraph 2 above in case being notified by IRS the person is subject to backup refrain now because individual didn’t report about all transactions and dividends on his tax return. In addition, item 2 can be crossed out if the person is completing the paper due to a real estate transaction. In this case, point 2 isn’t used, therefore it doesn’t matter if the person is subject to backup withholding.
If to download and read the print form instructions attentively, it says the most applicants aren’t required signing this paper. Generally, it is only necessary to sign it if IRS in Missouri or other states has informed the employee preliminarily provided a wrong TIN.