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Step 1 Write your corporation name. Step 2 Enter your business name. Step 3 Know your entity type. Step 4 Your exempt payee code. Step 5 Give your mailing address. Step 6 List account numbers. Step 7 Taxpayer Identification Number (TIN) Step 8 docHub your information.
The W-9 helps the payee avoid backup withholding; where the payee certifies on the W-9 that they are not subject to backup withholding. This allows them to receive the full payment due to them from the payer. Its similar to the withholding exemption certification in the W-4 Form for employees.
The primary purpose of the W 9 form 2022 printable is to provide an employer with such crucial information about the individual contractor as name, address, and TIN. They need these data to issue the editable IRS 1099-MISC at the end of every January, i.e. at the end of the tax year.
Form W-9 (or an acceptable substitute) is used by persons required to file information returns with the IRS to get the payees (or other persons) correct name and TIN. For individuals, the TIN is generally a social security number (SSN).
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