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You might even be asked for one when you're opening an account.
And, of course, if you or your company pay independent contractors or consultants, you'll have to deal with the intricacies of Form W-9 as well. In most cases, the business or financial institution will give you a blank Form W-9 and ask you to complete it. Businesses should indicate their name and their employer identification number on there.
Employees can claim exemption from withholding only if both of the following situations apply: To help employees further decide whether they can claim exemption from withholding, you can direct them to Figure 1-B Exemption From Withholding on Form W-4 on page 11 of the IRS Publication 505 Tax Withholding and Estimated Tax.
Don't complete it and submit it if you have misgivings, at least not without consulting with a tax professional first. On the other hand, employers sometimes run into financial difficulties and can no longer afford to pay their half of payroll taxes.
If you get a W-9 from your employer, first ask yourself whether you are an employee or an independent contractor.
Form W-9 is not something you generally have to worry about unless you're an independent contractor, consultant or another self-employed worker.
You may be asked to complete IRS W-9 form if you or your business are contracted to provide services to another company.
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UNITEDHEALTH GROUP is a registered service mark of United Health Group, Inc.