The form, officially called Form W-9, Request for Taxpayer Identification Number and Certification, is typically used when a person or entity is required to report certain types of income.
The form helps businesses obtain important information from payees to prepare information returns for the IRS. Taxpayers use the W-9 tax form to verify their correct taxpayer identification number (TIN) and to certify that they are not subject to backup withholding.
While tax form W-9 is used most commonly by independent contractors, gig workers and freelancers who are paid $600 or more by a business, it can also be used to report other types of income to the IRS. Examples of the types of income include:
- Acquisition or abandonment of secured property
- Cancellation of debt
- Contributions the taxpayer made to an IRA
- Dividends
- Miscellaneous income
- Mortgage interest the taxpayer paid
- Real estate transactions
- Stock and mutual fund sales; and broker transactions