Form W-9 2018

What Do You Need to Know About Form W-9

First of all, it is important to know that Form W-9 only has to be submitted by a certain type of employees which are self-employed and independent contractors. For instance, if you own a business that provides services to some company or organization, then you need to file a W-9. The company that you provide services for should then prepare Form 1099-MISC and report it to the IRS indicating the amount of money paid to your firm. In some cases you may also be required to fill out the W-9 by your bank.

The document itself is not complicated but there are certain points that you should pay attention to. You have to figure out where to get a blank, how to fill it out, and how to avoid pitfalls while dealing with a 2018 W9 form in PDF.

Where to Find a Blank for a W-9 Form and How to Fill it Out

Actually, you don’t have to search for the blank. The institution that requires you to prepare it has to provide you with it. However, you can find it online, complete it electronically and instantly submit to the recipient via email, fax or sms.

Be accurate when filling out the template. Provide the following:

  1. Your full name.
  2. Your business name.
  3. Check the box that describes you or the legal status of your business.
  4. Box 4 is for an exemption code. If you don’t have one, leave the box blank.
  5. Specify your address.
  6. Write or type your city, state, and zip code.
  7. Box 7 is optional. You have to complete it in case you have an account number.
  8. Indicate your Social Security Number, or Taxpayer Identification Number, or Employer Identification Number.

Check the information you provided and correct mistakes before sending the document to the requester.

Tips to Prepare a W-9 Form

Pay attention to some points when creating the document. Always check the person or business that asks you to prepare the form. You provide private information so it is extremely important to make sure that you understand clearly who is the requester.

In addition, try to file the document as securely as it is possible. Never submit it as an unencrypted attachment. This may lead to data leakage. In case you create a paper sample, deliver it in hand, or by mail. Submit an electronic file as an encrypted attachment.

In case you have any doubts concerned the request to fill out a W-9, ask about the list of tax papers you will receive after the submission of the file.