What is a W-9 Form?
Form W-9 is a really simple IRS form with precisely one function. It lets you send your Tax Identification number (TIN)—which is your Employer Identification Number (EIN) or your Social Security number (SSN)—to another person, bank, or other financial institution. The W-9 is a straightforward “information return,” meaning it’s just for giving someone else a […]
What Is Form 1099-NEC?
Small businesses often hire freelancers, independent contractors, and others to provide services. Payments to these non-employees must be reported for federal tax purposes, on Internal Revenue Service (IRS) Form 1099-NEC. Who Uses Form 1099-NEC?You must file a Form 1099-NEC form for non-employee compensation if all four of these conditions are met:1. Payment was made to […]
