Why People Ask For W9 Form

Why People Ask For W9 Form – If you're one of those contractors, you can expect to receive a 1099 form to report your income at the end of the tax year. If they fail to get one signed, they may have to withhold taxes at 24%. As people get busy, these forms can become challenging to collect. The information on this form is used to generate a 1099 tax form.

So if you refuse to. This form is necessary for accurate reporting of payments a business made to the vendor, contractor, or business. This document is an essential part of doing business and is required by the internal revenue service to keep track of taxable income.

Why People Ask For W9 Form

Why People Ask For W9 Form

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