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Now, It's simple to complete Form W-9 with TaxBandits. Enter information that is applicable to you. Your payer will be notified for the updates.
Form W-9 is used by any individuals/Entity to request a taxpayer identification number from a contractors /payees to file the 1099 tax returns to report for Payment made to any individuals, Real estate transactions, Mortgage interest paid, Acquisition or abandonment of secured property, Cancellation of debt, Contributions made to an IRA.
Penalty of $50 imposed on contractors/payees, if fail to provide their requester with the correct TIN, unless an acceptable reason is stated.
For more details, visit, irs.gov.