Form W-9 vs Form W-8: What Is the Difference?
Form W-9 and Form W-8 are both used in U.S. tax reporting, but they serve different purposes and apply to different categories of taxpayers. Understanding the distinction is essential to determining which form applies in a given situation.
Is It Safe to Provide Form W-9?
Form W-9 contains sensitive identifying information, including a taxpayer identification number (TIN). Because of this, many people question whether it is safe to provide the form when requested.
Backup Withholding and Form W-9 Explained
Backup withholding is a federal tax withholding mechanism that may apply when certain reporting requirements are not met. One of the most common triggers for backup withholding is the absence of a valid Form W-9.
What Happens If You Don’t Provide Form W-9
Form W-9 is used to establish a payee’s U.S. taxpayer status and to provide a correct taxpayer identification number (TIN). When a completed Form W-9 is not provided, U.S. tax rules require the requester to apply specific presumption and withholding rules.
IRS Form W-9: Request for Taxpayer Identification Number Explained
IRS Form W-9 is an information document used in U.S. tax reporting to collect a taxpayer’s identifying details. It is not a tax return and it is not filed with the Internal Revenue Service. Instead, the form is provided directly to the person or business requesting it.
Where to Mail IRS Change of Address Forms
IRS change of address forms are filed by mail and must be sent to the correct IRS address to ensure proper processing. The mailing address depends on which form is being filed and, in some cases, on the taxpayer’s prior address.
How Long Does the IRS Take to Process a Change of Address?
When you file a change of address with the IRS, the update is not immediate. Both Form 8822 and Form 8822-B are processed manually, and it generally takes several weeks for address changes to be reflected in IRS records.
IRS Form 8822 for Estate and Gift Tax Returns
Form 8822 is used to notify the IRS of a change in home mailing address for matters related to estate, gift, or generation-skipping transfer tax returns. This ensures that IRS correspondence connected to these filings is sent to the correct address.
Using IRS Form 8822 After Filing a Joint Tax Return
Form 8822 can be used to update an individual’s home mailing address after filing a joint tax return. This situation commonly arises when spouses who previously filed jointly later establish separate residences.
What Happens If You Don’t File IRS Form 8822?
Form 8822 is used to notify the IRS when an individual’s home mailing address changes. If this information is not updated, IRS correspondence may continue to be sent to an outdated address.