W9 Form For Apartment

W9 Form For Apartment – See what is backup withholding, later. Its primary purpose is to collect information about taxpayers. Without a w9 form, a landlord might refuse to return the tenant's security deposit. As a landlord, it is important to keep accurate records of your income and report it correctly to the irs.

Form 1099) with the irs. One way to do this is by filling out a w9 form, which requests your name, address. Any person or entity that is required to file an information return with the irs must obtain the correct taxpayer identification number of the recipient. The w9 is a standard tax form landlords need in order to properly deal with your security deposit, though many of them don't bother with it, says sam himmelstein, a lawyer who represents residential and commercial tenants and tenant associations.

Rental income is reported differently, with landlords using schedule e (form 1040) to report this income on their tax returns. When the landlord distributes the accumulated interest to a tenant, they must file an information return (i.e. It's a standard tax form issued by the internal revenue service.

New york law requires that the security deposit be put into a segregated trust account, with any interest designated as going towards the tenant.

Request for Taxpayer Identification Number and Certification