Knowing the Basics about W9 Form Helps Small Businesses File IRS Returns

 


Original Content: Business Upside

To bring more and more businesses of the service sector within the tax ambit and prevent tax evasion IRS uses the information provided by business owners gathered through the W9 form. All small business owners must have a clear idea about what is w9 form is and use it to collect taxpayer information from the contractors whose services they hire. As part of the IRS returns, businesses must furnish the information gathered from the contractors in the prescribed form and transcribe it in the IRS information return. The full name of the IRS form W-9 is Request for Taxpayer Identification Number and Certification, which explains the w9 form meaning. The form is applicable for all vendors hired by businesses like contractors or freelancers. 

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