The 2017 W-9 Form Printable, also known as the Request for Taxpayer Identification Number and Certification form, is a crucial document used in the United States to gather information from individuals and businesses for tax reporting purposes. The W-9 form is an IRS-approved form and is employed by payers to collect taxpayer identification information from payees, ensuring compliance with tax laws while facilitating accurate reporting.
Purpose and Use:
The primary purpose of the 2017 W-9 Form Printable is to request the correct taxpayer identification number (TIN) from the payee. The TIN can be an individual’s Social Security Number (SSN), Employer Identification Number (EIN) for businesses, or other applicable taxpayer identification numbers. This information is vital for tax reporting and is necessary for reporting various types of income paid to individuals and businesses that are not employees.
Contents and Structure:
The 2017 W-9 Form Printable consists of nine sections, each designed to collect specific details from the payee. The form begins with the general instructions, outlining the purpose of the form and the nature of the transactions involved. It also provides important guidelines for filers and payers to ensure accurate completion and submission of the form.
The first section of the form requires the payee to input their name, including any business or trade names. If the payee is operating as a sole proprietor, they are required to enter their individual name in this section. The second section focuses on the payee’s business and mailing address, while the third section requests the payee’s TIN, which could be an SSN or an EIN.
The fourth section captures the tax classification of the payee, allowing them to indicate their status as an individual, partnership, corporation, disregarded entity, or exempt payee, among other options. The fifth section is dedicated to backup withholding, which applies to payees who have not provided their TIN or who have provided an incorrect TIN.
The sixth section allows the payee to claim exemption from backup withholding if they meet certain criteria specified by the Internal Revenue Service. The seventh section is to be completed by the payee if they are a U.S. person subject to Foreign Account Tax Compliance Act (FATCA) reporting. The eighth section allows the payee to certify, under penalties of perjury, that the information provided on the form is accurate.
Lastly, the ninth section provides space for the payee to provide additional information or instructions, if necessary, to ensure clarity and avoid any ambiguities.
Completing and Submitting the Form:
The 2017 W-9 Form Printable can be completed manually using black ink or electronically, as long as the content remains legible and clear. The form should be filled out accurately, providing the most up-to-date information.
Once the payee has completed the form, it is submitted to the payer, who is responsible for retaining the form for a specified period. Payers then use the information provided on the form to complete various IRS tax forms, such as the 1099 series forms, which report specific types of income paid to the payee.
Conclusion:
The 2017 W-9 Form Printable is an essential document in the United States for collecting taxpayer identification information from payees. By providing accurate information through this form, payees contribute to the smooth operation of the tax system and ensure compliance with reporting requirements. It is crucial for both payers and payees to understand the purpose, structure, and proper completion of this form to facilitate accurate tax reporting and avoid potential issues with the IRS.
