Blank W-9 form 2022 printable and sign electronic form W-9
How to Fill a printable W-9 Form 2022: An Easy-to-Follow Guide
The purpose of the W-9 form is to include the information relevant to taxation about a client receiving services or goods from independent contractors, gig-workers, freelancers, and small-time businesses. Providers of said services and goods will be able to use the information for their annual income tax report.
How to Complete a W-9 Tax Form for the IRS
Consider this:
- A W-9 is signable by service providers and will be kept by an organization requesting it.
- After you fill out the document, you don’t have to keep a copy but it is strongly recommended that you do
Providing correct TIN is crucial since errors and incomplete information can be used as a base for fees and other penalties. The government does not tolerate such mistakes on the part of the taxpayer.
Where to get IRS W-9 forms to print?
The IRS federal website has all forms in PDF. You only need to download it and proceed with filling in relevant information as instructed by the document itself. After completing the process, send it to the client or employer as soon as possible for safekeeping. Do not forget to make a backup and archive it until any potential emergency.
An editable IRS W-9 form also exists. You can put in the data manually and print it directly from the website.
When do I need to use it?
Whenever a payee provides a valuable service or sells a good in exchange for money, they should be ready to complete a W-9 including the most recent transactions. On the other hand, W-9 form 2022 is usually requested by payers. All sorts of contracted jobs and valuable items are valid subjects.
There are other use cases:
- Selling or renting out real estate.
- Receiving mortgage interest.
- Canceling one’s debt.
When it comes to rent, you have to remember that income gained from renting real estate may be subjected to backup withholding tax usually applied to investments and other forms of passive income.
Note:
Typical users of W-9 forms are small businesses and private contractors represented by a U.S. person such as:
- Any U.S. citizen
- Foreign residents
- Partnerships
- Trusts and Estates
How to complete a W-9 form
Start with providing all actual and relevant information about the payee which includes:
Line 1: Name of the person. If you are a sole proprietor or run a single-owner LLC, put in your name. Otherwise, use the legal name of the business receiving the payment.
Line 2: Business name. Some refer to this line as “DBA” or “Doing Business As”. Put the name of the business here.
Line 3: Type of business. Specify the tax status that your business employs. Only some types of LLC must put in the elected method of taxing (as a single-owner LLC or a corporation).
Line 4: Exemption codes. In some cases, you need to avoid either backup withholding or reporting foreign assets as instructed by the foreign account tax compliance act. Any financial and material assets that exist outside of the U.S. must be reported.
What is Taxpayer ID Number?
It may be argued that providing a TIN of the payee. In 2022, the IRS W-9 printable form is a free fillable document that does not go beyond requesting very basic information. However, you must provide a valid TIN. There are two types of this particular numeric code:
- SSN (Social Security Number) if the payee is an individual.
- EIN (Employer Identification Number) if the payee is a business.
In case you don’t have an SSN, you may use your ITIN or individual TIN that you can ask for in the IRS department nearby.
TIP:
You can describe the situation with a non-existent ITIN in case you don’t have an SSN. Put in “Applied for”.
What is the Certification part?
Several important statements must be certified by the payee. If these statements turn out to be false, you will be subjected to penalties or even perjury charges.
- The correctness of the TIN.
- The correctness of the information about backup withholding.
- The validity of the legal status of the U.S. Person as described by the IRS.
- The exemption from reporting foreign assets.
When you need to certify these statements with a signature, consider getting a blank W-9 form to print and sign in physical form.