W9/W8 Tax Form

W9/W8 Tax Form – We use these forms to identify your tax status and residency, plus identify our reporting and withholding requirements. Please also note, that caps does. Go to www.irs.gov/formw8ben for instructions and the latest information. For general information and the purpose of each of the forms described in these instructions, see those forms and.

Why you received this form: The w9 form is intended for those people who are u.s. The w9 form is used for reporting income to the irs, while the w8 ben form is used to provide information to the payer to determine the appropriate amount of tax to withhold. Payments may be made for services, supplies, or as a reimbursement.

It is the only form you can fill out to identify yourself. Citizens with a social security number or someone who has applied for a social security number but has not yet received it. Sounds simple, but that’s a submission from everyone you do business with including freelancers, independent contractors, and gig employees.

October 2021) department of the treasury internal revenue service certificate of foreign status of beneficial owner for united states tax withholding and reporting (individuals) for use by individuals. It is important to note that the us has different tax treaties with different countries around the world, which means withholding amounts differ for freelancers depending on what country they reside in. For businesses operating within the united states and engaging freelancers and independent contractors, familiarizing oneself with various tax forms is essential.

Among the most common ones are the w8 and w9 tax forms.

Differences between W9 and W8 tax forms Skuad