The W-9 form is a document used by small business owners to collect the necessary taxpayer information from independent contractors and freelancers for tax reporting purposes.
The W-9 form is a tax document used by small business owners to collect necessary information from independent contractors or freelancers who provide services to their business. It is an official IRS form that gathers the contractor's taxpayer identification number, such as their Social Security Number or Employer Identification Number, as well as their legal name and address. By requesting a completed W-9 form from independent contractors, small business owners can ensure they have the necessary information to report payments made to these individuals accurately. The W-9 form plays a crucial role in maintaining tax compliance and fulfilling reporting obligations for businesses that engage with independent contractors or freelancers.