August 28, 2009, Newsletter Issue #182: IRS Forms

Tip of the Week

Not all IRS forms are used to report taxes on. Some are used by employers, some by individuals, and other entities. The purpose of this assortment of IRS forms is for informational purposes. They are needed in order for taxpayers to obtain information that is specific to his or her circumstance. In other words, they gather information that is used to calculate income taxes. No tax figures are actually involved on these IRS forms. For instance, the W-4 is an IRS form that is used to obtain taxpayer information about withholding amounts. Other popular IRS information forms are the following:

Form I-9. Known as the Employment Eligibility Verification form, this needs to be filled out by each new employee to verify their ability to be employed within the United States. It requires forms of identification to verify the person filling it out is actually who they claim they are. Each employer needs to have one of these forms on hand for each employee.

Form W-9. Titled ‘Request for Taxpayer Identification Number and Certification’, this IRS form is mostly commonly used by independent contractors, or self employed individuals, to release information to paying customers. This information is needed in order to process payment. For instance, every time a self-employed musician has a scheduled gig, the place they are playing at will need a W-9 for their records. The musician will fill it out, sign it, and return it to the administrative office of the gig site. Then, the W-9 will be used as backup for the check processing (or payment) by the organization. Many entities require having signed W-9s on file for all independent contractors they pay. The W-9 contains the independent contractor’s name, address, and taxpayer identification number. It, in turn, will be used at year end to prepare a 1099 (an IRS tax form).

SS-4. Titled ‘Application for Employer Identification Number’, this is one of the most requested IRS forms. There is no tax information on it. If you operate a business, or have changes in one, you will need to file an IRS Form SS-4. It contains your name, address, social security number, reason for application, and your form of operation (sole proprietor, LLC, etc.).

For ideas about the vast array of IRS form, visit the IRS website. You can download, print, and order forms from this site.

You can also order these forms by calling the IRS at 1-800-FORM.

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