IRS Form W-9 is officially titled the Request for Taxpayer Identification Number and Certification. This form is used to provide the correct Taxpayer Identification Number (TIN) to a person (or company) that is required to file an information return with the IRS. This information return (e.g. Form 1099-MISC, Form 1098) is to report, for example:
- Non-employee compensation;
- real estate transactions;
- mortgage interest;
- acquisition or abandonment of secured property;
- cancellation of debt;
- and contributions to an IRA.
Now let’s look at the exact steps to correctly complete a Form W-9.
Line 1 of the form asks for your name. If you’re running a sole proprietorship you would enter YOUR name. To clarify this point, the name on line 1 must match with the name the IRS associates with your TIN (i.e