{"id":7286,"date":"2023-06-15T02:37:23","date_gmt":"2023-06-15T02:37:23","guid":{"rendered":"https:\/\/www.irstaxapp.com\/?p=7286"},"modified":"2023-06-15T02:37:34","modified_gmt":"2023-06-15T02:37:34","slug":"form-w-9-filling","status":"publish","type":"post","link":"https:\/\/www.irstaxapp.com\/form-w-9-filling\/","title":{"rendered":"Form W-9: 6 Common Mistakes and How to Avoid Them"},"content":{"rendered":"\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<div class=\"jeg_video_container jeg_video_content\"><iframe loading=\"lazy\" title=\"Filling form W-9? Avoid these 6 Mistakes\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/YxslBn4BTlo?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe><\/div>\n<\/div><\/figure>\n\n\n\n<p>The <a href=\"https:\/\/www.irstaxapp.com\/w-9-form-10-most-important-things-you-must-know\/\">Form W-9<\/a> is a critical document business use to gather information about independent contractors, vendors, or other entities. This information is primarily used for tax purposes. Despite its importance, many individuals and businesses need help with errors when completing this form.\u00a0Here are six common mistakes often made when filling out a W-9 form, offering insights on how to avoid them.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_62 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-663928b1174af\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-663928b1174af\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.irstaxapp.com\/form-w-9-filling\/#1_Incorrectly_Entering_the_Name_in_Form_W-9\" title=\"1. Incorrectly Entering the Name in Form W-9\">1. Incorrectly Entering the Name in Form W-9<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.irstaxapp.com\/form-w-9-filling\/#2_Providing_the_Wrong_Taxpayer_Identification_Number_TIN\" title=\"2. Providing the Wrong Taxpayer Identification Number (TIN)\">2. Providing the Wrong Taxpayer Identification Number (TIN)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.irstaxapp.com\/form-w-9-filling\/#3_Failure_to_Indicate_the_Correct_Tax_Classification\" title=\"3. Failure to Indicate the Correct Tax Classification\">3. Failure to Indicate the Correct Tax Classification<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.irstaxapp.com\/form-w-9-filling\/#4_Ignoring_Backup_Withholding\" title=\"4. Ignoring Backup Withholding\">4. Ignoring Backup Withholding<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.irstaxapp.com\/form-w-9-filling\/#5_Not_Signing_the_Form_W-9\" title=\"5. Not Signing the Form W-9\">5. Not Signing the Form W-9<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.irstaxapp.com\/form-w-9-filling\/#6_Sending_Completed_Form_W-9_via_Email\" title=\"6. Sending Completed Form W-9 via Email\">6. Sending Completed Form W-9 via Email<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"1_Incorrectly_Entering_the_Name_in_Form_W-9\"><\/span>1. Incorrectly Entering the Name in Form W-9<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The first field on a W-9 form requires entering your name as shown on your income tax return. Many people must input a business name or a DBA (Doing Business As) name instead of their legal name. Always ensure that the name provided matches precisely with the one on your tax return.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"2_Providing_the_Wrong_Taxpayer_Identification_Number_TIN\"><\/span>2. Providing the Wrong Taxpayer Identification Number (TIN)<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>A common yet costly mistake is providing an incorrect or invalid Taxpayer Identification Number. For individuals, this would be your <a href=\"https:\/\/www.irstaxapp.com\/is-social-security-disability-taxable\/\">Social Security Number <\/a>(SSN) and an <a href=\"https:\/\/www.irs.gov\/businesses\/small-businesses-self-employed\/employer-id-numbers\" target=\"_blank\" rel=\"noopener\">Employer Identification Number<\/a> (EIN) for businesses. Any discrepancy between the TIN on your W-9 and what the IRS has on file can result in significant problems, including penalties. If you&#8217;re uncertain, it&#8217;s always worth double-checking with the IRS.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"3_Failure_to_Indicate_the_Correct_Tax_Classification\"><\/span>3. Failure to Indicate the Correct Tax Classification<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The tax classification section of the <strong>W-9 form <\/strong>is frequently overlooked, causing many to select the wrong status. Remember, your tax classification determines your tax obligations. If you need clarification on your tax classification, it&#8217;s advisable to consult with a tax professional to avoid complications.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"4_Ignoring_Backup_Withholding\"><\/span>4. Ignoring Backup Withholding<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Some payees are subject to &#8220;<a href=\"https:\/\/www.irstaxapp.com\/what-is-backup-withholding\/\">backup withholding<\/a>.&#8221; If you&#8217;ve been notified by the IRS that you&#8217;re subject to backup withholding due to underpayment of taxes, you need to mark the checkbox in the &#8216;backup withholding&#8217; section. Failing to do so can result in penalties. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"5_Not_Signing_the_Form_W-9\"><\/span>5. Not Signing the Form W-9<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Another common mistake that might seem trivial yet has grave consequences is neglecting to sign the W-9 form. The IRS requires a signature to validate the information on the form. An unsigned form is considered incomplete and can cause delays or potential legal issues.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"6_Sending_Completed_Form_W-9_via_Email\"><\/span>6. Sending Completed Form W-9 via Email<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>As a payee, you can submit a completed W-9 form to the payer or broker who requested it. But, ensure that this method is more secure and does not put your sensitive information at risk. If you&#8217;re using a fast file transfer service, sending the form by fax or traditional mail is safer.<\/p>\n\n\n\n<p>Avoiding these common mistakes when filling out your W-9 form will save you time and potential headaches. When in doubt, consult with a tax advisor or attorney knowledgeable about tax forms and can provide expert guidance. The critical takeaway is to double-check all information on your W-9 before submitting it. This practice will help ensure you stay in good standing with the IRS and maintain seamless business operations.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Form W-9 is a critical document business use to gather information about independent contractors, vendors, or other entities. This information is primarily used for tax purposes. Despite its importance, many individuals and businesses need help with errors when completing this form.\u00a0Here are six common mistakes often made when filling out a W-9 form, offering [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7288,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[54],"tags":[],"amp_enabled":false,"_links":{"self":[{"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/posts\/7286"}],"collection":[{"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/comments?post=7286"}],"version-history":[{"count":1,"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/posts\/7286\/revisions"}],"predecessor-version":[{"id":7289,"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/posts\/7286\/revisions\/7289"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/media\/7288"}],"wp:attachment":[{"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/media?parent=7286"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/categories?post=7286"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/tags?post=7286"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}