Do I Need to Sign W9 if I Do not Want to?

Everyone who works as freelance or hires such staff has to deal with a W9 form. IRS requires from employees the information, that is necessary for taxes. This document is required when the payment per tax year exceeds six hundred dollars.

If you are unsure about the necessity of 2018 W-9 form, pay attention to the kind of relationships between you and the company. There is a huge difference between an employee and an independent contractor. Those statuses presuppose different taxation procedure. Actually, the employer pays the taxes for its workers, but if you work freelance or as a consultant you are responsible for taxes yourself.

Sometimes, dingy organization can be required to complete those sample to make sure that they are legal. It is normal procedure, thus do it and prove that you are fair.

Why Should I Fill out W9 Form?

Working as an independent contractor or consultant you receive money for different services and tasks. To process any payment companies require the W9 form from each worker. According to that, sole proprietors, who are treated like independent contractors from the point of view of taxation, are obliged to complete this template too. If there is a lot of institutions who want to receive the template from you, complete one and make copies of the sample. It will help you to save time.

The form is not big. It does not take much time to complete the W9 in 2018. You will need to mention such information:

  • Personal and business name;
  • Type and kind of your company (if any);
  • Address and postal code;
  • Your identification number as the taxpayer or employer.

Read the instructions given in the form and follow them to be sure that all the data you provide is in a right way. If you have difficulties or you are not sure about the accuracy of the information you have put, then ask a tax advisor or attorney for the consultation.

Do not hesitate to provide the required template if it is really necessary. By this, you will show that you are a law-abiding person to be trusted.

There is no need to refill the data in the sample unless some changes in your personal information happen. For example:

  • Your name has been changed;
  • You have got another type of employment;
  • Your taxpayer identification number has changed into the employer ID.
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