Form W-9 is used when a person or business needs to provide their Taxpayer Identification Number (TIN) to someone who will be paying them. This form is typically requested by clients, banks, or financial institutions for tax purposes. By completing Form W-9, you help the requester report the amount they paid you to the IRS correctly.
Scenario: Patricia is a freelance graphic designer, hired by a company for a project. To pay her and report this payment to the IRS, the company asks Patricia to fill out a Form W-9 with her taxpayer information. At the end of the year, the company uses this information to complete a Form 1099, which reports the income Patricia receives.
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