What is W-9 form 2020 printable and how to fill it
You can download, print and fill out it
W-9 is an IRS government form that is used by business entities to request essential information from independent contractors they work with. If you are a freelancer or vendor and your client has payed you $600 or more during the year, you’ll definitely get an inquiry to complete this tax document. The paper itself doesn’t report any payments. It just requests personal information that is required for one of 1099 official documents.
What is the purpose of W-9 and who should complete it?
Payees submit the form to provide payers with such information:
- legal name;
- type of business entity;
- Taxpayer Identification Number;
- full address;
- backup withholding status.
All the mentioned data is used to prepare the appropriate 1099 form. You’ll receive your own copy of it in January. The payments on this 1099 have to be reported on your Income Tax Return.
You’ll be asked to complete W-9 2020 blank if you have:
- made direct sales of at least $5000;
- received $600 and more from clients;
- inherited property that may be taxable;
- received income like dividends and interests;
- opened a new bank account.
Employees don’t have to fill W-9. They’ll prepare W-4 to report the income they’ve received. Employees have to submit W-9 only if they’ve got payments other than their regular monthly wages.
How to complete?
Follow the steps below to fill out the document correctly.
|Step||What information is required?||Instructions|
|1.||Legal name||Enter your legal name on item 1 exactly as it’s shown on your Income Tax Return.|
|2.||Business name||Use your trade name on line 2. You can omit this step, in case the name isn’t different from the one on item 1.|
|3.||Entity type||Check the box near the entity type that suits your business model according to federal tax classification on line 3. Use field “Other”, if there are no appropriate options in the list.|
|4.||Exemption codes||Exemption codes are used by payees that are exempt from backup withholding and /or FATCA reporting. See the list of exempt entities and the appropriate codes on instructions to item 4.|
|5.||Street, number, apartment, city, state and ZIP code||Provide your full address on lines 5 and 6. This address will be used by payer to mail the appropriate 1099 copy.|
|6.||TIN||TIN is Employer Identification Number for businesses and Social Security Number for individuals. Enter it on Part I. Residents alien should use ITIN instead.|
|7.||Signature and current date||Put a current date on Part II and sign the blank. Cross out line 2 in this section, in case you’re a subject to backup withholding.|
Only US citizen or US person is eligible for W-9. If you’re not, you’ll probably have to submit W-8 instead.
Use the following template as an addition for the instructions above.
When the blank is completed, send it to the requester. You can file the paper via regular mail service or just deliver hand-to-hand.
Where can you find W-9 form PDF
You can complete the document not only by hand, but also online. All the essential data is the same, but you’ll enter information digitally. Then just certify the blank with electronic signature. If you need a hard copy for each paper, you’ll be able to submit such fillable W-9 forms to print.
Digital documents are filed via email. Make sure the one you’ll use utilizes encryption to protect your personal data from potential leaks. You can also use a protected online delivery service to file the paper to the requester.
You’ll have to submit a new document every time any essential information changes. It includes legal name, entity type, exemption status and TIN.
Where to download fillable W-9 form?
There are 3 main ways to obtain the document:
- get it on IRS.gov official website;
- download PDF from inquiry letter attachment;
- get the most recent editable blank on our website.
We offer not only the form itself, but also the ability to fill all the fields digitally and certify the paper with electronic signature online. In addition, you can download a free printable W-9 form, in case you need a hard copy filled by hand.
How to e-sign the document?
You can certify the blank with your signature using any PDF editor. It can be Adobe Acrobat, for example. Just go to “Sign” and choose the signature or create new one. Place your e-sign exactly where Part II instructions show you.
PDF editors are not always easy to use and they’re usually rather expensive. Fortunately, you can certify the blank with your signature right on our website.
W-9 Form 2020 Printable for LLC
The paper is mandatorily used for various current reporting objects involving mortgage interest income, debt cancellation, the income of self-employment, etc. All the data a person states in the fillable form is later used to complete 1099. Regardless of the business type, its size or income, a company is obliged to complete W-9 form 2020 printable since another company it is doing business with, can’t but require the filled out form. All this is required to have the exact taxpayer identification number of every employee, as well as their EIN or TIN.
So, if you have an LLC, it requires the editable document from all the service providers and businesses you are partnering with and which involve other LLCs.
When Aren’t You Required to Fill Out W-9 ?
To find out when you aren’t obliged to complete a W-9, it’s important to understand who is obliged to fill it out.
We’ve settled it that financial institutions and companies use the paper to acquire information from their customers and report interest or dividends. Aside from that, independent contractors also use the form. Here are the points under which an independent contractor has to complete the document online, then download the ready PDF paper for free, and submit it to the IRS:
- It’s they who decides when and how the work is to be done;
- They do not get benefits from an employer such as 401 matching or health insurance;
- Their taxes are always punctually paid by themselves.
Among the examples of the most widely spread independent contractors, we can name freelancers, truck drivers, writers, consultants, actors, graphic designers, developers, accountants, and landscapers. If you are self-employed person, you need to fill out a W-9. Anyway, if you don’t find yourself on the list, then most probably you are due to filling in the paper. If you don’t, you become a subject to a significant penalty while the payor will then be obliged to withhold additional backup taxes.