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Form W-9 is most commonly used in a business–contractor arrangement. [4] Businesses can use Form W-9 to request information from contractors they hire. When a business pays a contractor over $600 during a tax year, the business is required to file Form 1099-MISC, a variant of Form 1099. To fill out Form 1099-MISC, the business may need to ...
A W-9 simply provides information your payer needs to complete a 1099 form reporting their payments to you. However, you might have to claim the income reported on the 1099 on your taxes.
When a business hires an independent contractor and pays them a total of $600 or more annually, the IRS requires the business to submit Form 1099. In order to collect the contractor's information ...
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