Archive for February, 2013

What is W9 tax form?

Monday, February 25th, 2013

W9 tax formAs the owner of an independent company, one has to provide his or her social security number to their customers. This is done with the help of the W9 tax form.

The owner simply has to enter their name along with their Social Security number along with his or her employer identification number.

The function of the W9 form is to provide reliable information about the service provider to their clients. Thus W9 forms enable the client to know if the service provider is subjected to any type of backup holding. Backup holding is applicable to a person under two reasons.

  • Where the name and other details doesn’t match the IRS Database
  • When you have taxes which are yet to be paid.

If you are applicable to such a restriction you can’t do business freely until and unless the taxes which are due are cleared by you fully.