What is W-9 Form?
How Does W-9 Form Work?
Employers and all types of brokers (for example, securities dealers and real estate agents) are required to report details of transactions to the Internal Revenue Service (IRS). Employees and brokerage clients must submit a W-9 form to employers and brokers to verify their Social Security number (SSN) and tax identification number (TIN).
Why Does W-9 Form Matter?
The information on a W-9 form ensures that employers and brokers report income from payrolls and financial transactions to the correct taxpayer. Non-U.S. citizens who are legal residents may substitute a W-8 form.