IRS Form W-9. Request for Taxpayer Identification Number and Certification

IRS Form W-9 is a tax form used in the United States for providing a taxpayer identification number (TIN) to a person or entity that is required to file an information return with the IRS. The form is used to request the TIN of the person or entity that is required to file the information return.

The form consists of four parts. Part I requires the name of the individual or entity submitting the form, their business name, and their address. Part II requires the taxpayer identification number (TIN) of the individual or entity, which can be their Social Security number (SSN) or employer identification number (EIN). Part III is an optional section for the requester to provide their name, address, and TIN. Part IV is a signature section where the individual or entity submitting the form certifies that the TIN provided is correct and that they are not subject to backup withholding.

The form is typically drawn up when a person or entity needs to provide their TIN to another person or entity, such as when they are hired as an independent contractor, receive payments for rental income, or receive interest or dividends on investments.

The parties involved in the form are the requester and the individual or entity submitting the form. The requester is the person or entity that needs the TIN of the individual or entity submitting the form in order to file an information return with the IRS.

When compiling the form, it is important to ensure that all information is filled out correctly and that the TIN provided is accurate. The form must be filled out in black ink and signed by the individual or entity submitting the form.

The advantages of this form are that it allows for accurate reporting and tracking of income for tax purposes, and it helps to prevent errors and fraud in the reporting of income. However, problems can arise if the form is filled out incorrectly, such as if an incorrect TIN is provided or if the form is not signed. This can result in delays in processing and potential penalties for the individual or entity submitting the form.