Tax season is looming, and understanding the IRS Form W-9 is crucial for freelancers, independent contractors, and businesses alike. This guide demystifies the 2025 version of the W-9, helping you navigate it with ease.
The W-9 form, officially titled "Request for Taxpayer Identification Number (TIN) and Certification," is used by businesses to collect essential information from individuals and entities they're paying. This includes your name, address, and Taxpayer Identification Number (TIN) – either your Social Security Number (SSN) or Employer Identification Number (EIN).
Why is it important? Providing accurate information on your W-9 ensures the payer can correctly report your earnings to the IRS. Incorrect information can lead to backup withholding, where the payer is required to withhold a percentage of your payments and send it directly to the IRS.
Stay tuned for further updates and downloadable resources relating to the official 2025 W-9 form as they become available! Make sure your TIN is ready, it's almost go time!
