If you are an employer, you need to know about the IRS W9 form that is used by the Internal Revenue Service to track tax payments. It helps the agency in collecting data on all taxpayers who had been sent tax notifications. With this form, the employer will be able to track all tax payments made by his employees and pay them at the end of each financial year. You can have this information by ordering the W9 form online and have it delivered to your office.
For this information, you will just need to have the concerned company complete and mail you a W9 form request. The complete, standard form W9 is accessible from the IRS at its website. The basic, one-page form requires the taxpayer identification number, taxpayer statements, identification numbers, employer identification number, employer’s social security number, payee name, date of birth, Medicare Identification number, and Coding Data Number. In case if the W9 does not contain all these items, you may ask for an updated W9 form from the IRS that contains all these items.
The w9 form also requires the personal information of the taxpayer such as name, address, phone number, and employer identification number. It also requires the state, city, and zip codes of residence of the taxpayer. It asks for information regarding sources of income, types of income, and deductions. After completing the form, the return is then sent to the IRS for review. It usually takes three weeks or more for the agency to process the request.
While completing the w9 form, the taxpayer should ensure that the information he has provided is correct. The forms are available in various versions depending on the information that is required. The forms can be downloaded online from the IRS website. One of the most popular versions is the one that contains all the information required. The other available versions are those that provide information that is specific to each state in the country. Some versions also provide information for the states that are not listed.
The form w-9 can be completed only once. After the completion of the form, the taxpayer must provide a copy to the IRS for signature. If any mistakes are made in the electronic transaction, the IRS will need an updated copy of the return. The IRS needs this copy to determine whether the taxpayer has provided all the necessary information to obtain a refund.
There are some tax filers who choose not to submit the W9 form by paper. They, therefore, choose to electronically submit the tax return. Since the IRS has set up a process for electronic submission, it is advisable that the filer provides the IRS with an electronic copy of the w-9. If a taxpayer does not follow this procedure, there is a possibility that the IRS will ask for an updated version of the w-9.