It is not just the independent contractor or freelancer who may be subject to a W9 form. Each year, the sum of the freelancer’s professional earnings is recorded on the w9 tax form fillable and submitted to the IRS.ĭata provided on a w9 tax form fillable comes from IRS form 1099, which outlines any income paid out to a person that otherwise would be listed on an IRS W-2 form. See, it is up to the freelancer to pay his own taxes from the 4,500, usually every quarter. When the work is done, and the freelancer’s invoice is submitted, that particular company pays him the full $4, 500 without any taxes taken out. Unlike part-time and full-time employees, independent contractors don’t have taxes withheld for payments of services rendered to their clients.įor instance, a company could hire a freelance designer to build a new website for a fee amounting to $4, 500. The government, however, still requires organizations that use independent contractors to submit a 1099-MISC form to match the contractors’ tax filings with their yearly tax income.īut generally speaking, W9 forms are used by independent contractors or freelancers, and not by full-time employees, to complete their tax forms. As such, it is up to individual contractors or freelancers to meet those IRS tax obligations. You can download a blank W9 form, to get a picture of what we are talking about.īusinesses that seek services from independent contractors or freelancers don’t withhold any income tax, Medicare taxes, or Security taxes, as regular employers do. A W9 tax form is an IRS tax document in the form of a helpful guide, which helps independent contractors in completing their tax obligations for the calendar year.
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