What is the use of w9 form

Question

Accepted Answer

The W9 form is used to collect taxpayer identification information for individuals or entities who are paid by a business.

The W9 form is used by businesses to gather information about individuals or entities they pay, such as independent contractors or freelancers.
It collects the taxpayer identification number (TIN) of the payee, which can be their Social Security Number (SSN) or Employer Identification Number (EIN).
The information provided on the W9 form is used by the business to report payments made to the payee to the Internal Revenue Service (IRS).
The W9 form is essential for businesses to ensure compliance with tax regulations and to accurately report payments made to individuals or entities.
For example, if a company hires a freelance graphic designer to create a logo and pays them for their services, they would request the designer to fill out a W9 form to collect their TIN.

Accepted Answer

W9 form is used for updating the provider billing office address and provider related information with insurance .

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