An independent contractor should file Form W-9 with an employer. However, Form W-9 does not need to be filed with the IRS. Independent contractor tax preparation requires freelancers to get copies of their Form 1099 from all their clients. https://quickbooks-payroll.org/ In addition to employers giving copies of Form 1099 to their freelancers and independent contractors, they need to file them with the IRS and their state tax authority. Your tax obligations vary between 1099 contractors and W-2 employees.
Form W-9 requires you to include information on your business type. Form W-9 is a standard tax document often utilized in business and financial transactions.
Small business tax forms package
The requestor of the taxpayer information is not exempt from penalties either. If the requestor discloses or uses the the taxpayer’s TINs in violation of federal law, the requestor may be subject to civil or criminal penalties. Amanda Bellucco-Chatham is an editor, writer, and fact-checker with years of experience researching personal finance topics.