W9 Form Vs Ein

W9 Form Vs Ein – As you pointed out, the instructions are clear. But because you're not sending it to the irs, you need to be careful about who exactly you send it to. Knowing how they differ can help you find the right documents for. Must be retained by the employer and produced upon official request.

Helps prevent tax withholding on payments made to freelancers. Unless the llc has employees, pays excise taxes or has certain employer retirement plans, there is little or no need for the llc to have an ein. Choosing between an employer identification number (ein) and a social security number (ssn) when completing a w9 is an important step. By using your ein you avoid giving out your social security number unnecessarily.

However, it is different from other irs tax forms. For your taxes, it doesn't make any difference which number you use, and it also doesn't matter that the ein is not on your bank account. An ein belongs to a business and can be used later if needed.

This form contains their employer identification number (ein) or the sole proprietor’s social security number (ssn). Backup withholding also applies to taxpayers who are unable to provide a correct tin, ein, or ssn.

What Is a W9 Form? How to file and who can file