A W-9 form is an official document furnished by the IRS that businesses use to collect income tax identification information from independent contractors who are being paid $600 or more during a year. The form is used to confirm a persons name, address, and taxpayer identification number (TIN) for employment or other income-related purposes. The information obtained on a W-9 form is most often used to create a version of Form 1099, which contains information about any income that may have been received by the TIN holder that would not normally be listed on a W-2.

Here are some key points to know about the W-9 form:

• Purpose: The W-9 form is used to request information from a taxpayer (usually an independent contractor or freelancer) in order to file taxes.
• Who needs to fill it out: Independent contractors, freelancers, and gig workers who are paid $600 or more by a business may need to fill out a W-9 form.
• What information is required: The form requires the individual to provide their name, address, and taxpayer identification number (TIN) .
• When to fill it out: A W-9 form must be completed by one party and furnished to a second party if the second party is going to furnish specific types of payments in the future.
• Other uses: While Form W-9 is frequently used for independent contractors, there are a few other situations in which a business may request a completed Form W-9. Examples include interest income, dividend income, and proceeds from investment sales.
• Difference from W-4: The main difference between Form W-9 and Form W-4 is that Form W-9 is for independent contractors and other payments to people who are not employees, while Form W-4 is for more traditional employment relationships.

Overall, the W-9 form is an important document for businesses to collect necessary information from independent contractors and other non-employee workers for tax purposes.