This change introduces new reporting requirements, particularly affecting flow-through entities such as trusts and estates and may require refiling Form W-9.

Key Takeaways IRS Form W-9 transmits taxpayer identification information between two parties. Form W-9 isn’t filed with the IRS; instead, it is used to complete Forms 1099 and 1098.

A W-9 is an IRS form used by businesses and other entities to collect taxpayer identification numbers from independent contractors and individuals.

If you want to be paid, refusing to hand over a Form W-9 can be a mistake. You may face backup tax withholding at 24% if you fail to sign and provide a Form W-9.

To make things easier, the IRS has released detailed tax form instructions and printable forms for 2023 and 2024.

If you want to be paid, refusing to hand over a W-9 may not make sense. The IRS says that anytime a payor thinks they may have to report a payment on an IRS Form 1099, they should ask for a Form W-9.

If you decide to start working with independent contractors, print Form W-9 and ask them to fill it out. Companies are legally required to withhold 24 percent of the payments made to contractors ...

IRS forms W-8 and W-9 serve distinct purposes in the tax system and are used by different groups to fulfill their tax obligations. A W-8 form is typically required from non-U.S. individuals or ...

IRS W-9 Form Purpose Perhaps one of the first things to realize is that the W-9 tax form is simply a "Request for Taxpayer Identification." ...

The person who is paying you for those services - no matter how you're paid - may be required to report the payments to IRS (Internal Revenue Service), typically using a form 1099.

The W-9 Instructions According to the IRS, the W-9 isn't just a way to say whether you're a sole proprietorship or an S-corporation. The W-9 request letter goes out because the W-9 has other uses too.