A W-9 form was created from the Internal Revenue Service to make it easier for them to keep track of income that a business is making for taxes.
The W-9 form is given to the person or organization that is paying you for your services.
The W-9 form includes:
The information from the W-9 form is enter into the client accounting system to issue you a payment for your services.
The W-9 Form also helps the client prepare 1099 form for taxes.
They are issue if your services are more than $600.00 for the fiscal year if you are independent contractor.
If they are less than $600.00 for the year, then you will not need to submit a 1099 to the IRS. Also 1099 form are excluded from corporation since they have different tax code.
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