Printable Form W-9 2017 For Easy Download

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The importance of having a properly filled-out Form W-9 cannot be overstated, particularly for freelancers, independent contractors, and small business owners. Form W-9, also known as the Request for Taxpayer Identification Number and Certification, is a crucial document used by the Internal Revenue Service (IRS) to verify an individual's or entity's taxpayer identification number (TIN). In this article, we will delve into the world of Form W-9, its significance, and provide a comprehensive guide on how to fill it out accurately.

Understanding the Purpose of Form W-9

Form W-9 is used by payers (such as employers, clients, or financial institutions) to obtain the correct taxpayer identification number from payees (freelancers, independent contractors, or small business owners). The primary purpose of this form is to certify that the taxpayer identification number (TIN) provided is correct and to confirm that the payee is not subject to backup withholding.

Who Needs to Fill Out Form W-9?

Form W-9 is required for various types of payees, including:

• Freelancers and independent contractors
• Small business owners (sole proprietors, single-member LLCs, etc.)
• Self-employed individuals
• Real estate agents
• Renters

If you fall into any of these categories, it's essential to have a properly filled-out Form W-9 on hand.

How to Fill Out Form W-9 2017

Filling out Form W-9 is a relatively straightforward process. Here's a step-by-step guide to help you fill it out accurately:

1. Name: Enter your name as it appears on your tax return.
2. Business Name: If you're a sole proprietor or single-member LLC, enter your business name.
3. Taxpayer Identification Number (TIN): Enter your Social Security Number (SSN) or Employer Identification Number (EIN).
4. Exemptions: Check the boxes that apply to you (e.g., exempt from backup withholding, exempt from FATCA reporting).
5. Certification: Sign and date the form, certifying that the information provided is accurate.

Common Mistakes to Avoid

When filling out Form W-9, be cautious of the following common mistakes:

• Incorrect or missing TIN
• Inconsistent or misspelled names
• Failure to sign and date the form
• Not checking the correct exemption boxes

Download and Print Form W-9 2017

To obtain a printable Form W-9 2017, you can:

• Visit the IRS website (irs.gov) and download the form
• Use tax preparation software to generate the form
• Contact your payer or financial institution for a copy

Important Notes

• Form W-9 is a one-time certification, but it's essential to update the form if your TIN or name changes.
• Keep a copy of the completed form for your records.
• Form W-9 is not the same as Form 1099-MISC, which is used to report miscellaneous income.

Conclusion and Next Steps

Now that you have a better understanding of Form W-9 and how to fill it out accurately, take the next steps:

• Review and update your Form W-9 if necessary
• Provide a completed Form W-9 to your payers or financial institutions
• Keep a copy of the completed form for your records

By following these steps and avoiding common mistakes, you'll ensure that your Form W-9 is accurate and compliant with IRS regulations.

We hope you found this article informative and helpful. If you have any questions or comments, please feel free to share them below!