Print Free 2016 W-9 Form For 2015
The 2016 W-9 Form is used to request either the Social Security Number (SSN) or Taxpayer Identification Number (TIN) of a U.S. citizen - or a resident alien who has a green card.
IRS Form W9 is typically used by a business that hires a contractor to do work, so if you are an independent contractor, you may need to have one on hand to submit when it is requested from you by any business that hires you.
So print a bunch of them!
How To Complete:
All you need to do to complete these W9 Forms is fill in your name (or business name), your address, your business type and either your SSN or TIN. Then make sure you sign and date it too! It's really that EASY!!!
Businesses that request and collect a W9 from you will not actually submit it to the IRS with any of their tax return information.
This information is simply kept on file with their business records until such time that it may be necessary to prepare a 1099 to report to the IRS income paid to you that may be taxable.
Substitute Form W-9
You can create and use your own Form W-9 (a substitute Form W-9) if its content is substantially similar to the official IRS Form W-9 and it satisfies certain certification requirements.
You can also incorporate a substitute Form W-9 into other business forms you customarily use, such as account signature cards. However, the certifications on the substitute Form W-9 must clearly state (as shown on the official Form W-9) that under penalties of perjury:
1. The payee’s TIN is correct
2. The payee is not subject to backup withholding due to failure to report interest and dividend income, and
3. The payee is a U.S. person.
You may not:
1. Use a substitute Form W-9 that requires the payee, by signing, to agree to provisions unrelated to the required certifications, or
2. Imply that a payee may be subject to backup withholding unless the payee agrees to provisions on the substitute form that are unrelated to the required certifications.
Update Your Information
Anytime your status changes, you must always provide updated information to any person to whom you claimed to be an exempt payee if you are no longer an exempt payee if you expect to receive future reported payments from this person.
For example, if you're no longer tax exempt, or if you change your C Corp to an S Corp, if you are a C corporation that elects to be an S corporation, or if you no longer are tax exempt, you need to update your info. Also, if the tax id number or name on the account changes, you'll need to do a new W9 Form then too.
Keep in mind (at the front of your mind, that is) that there are IRS penalties for not complying with certain things:
Failure To Furnish Tax Identification Number Failure to do so when requested can have you subject to a penalty of $50 for each such failure unless you can show reasonable cause and not neglect that is willful.
Civil Penalty For False Withholding Information Making a false statement with no reasonable basis, which results in no backup withholding can have you subject to a $500 penalty.
Criminal Penalty For Falsifying Information Willfully falsifying certifications or affirmations can have you subject to criminal penalties - including fines and/or imprisonment.
Misuse Of Tax Identification Numbers If W9 requester discloses or uses Tax Identification Numbers in violation of federal law, the requester may be in deep doo doo because they will be subject to civil and criminal penalties.
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