Validating a federal tax id number

Form W-9 is used when a business needs to have your name, address and taxpayer identification number so the business can issue a tax document to you and to the IRS.

A person/company who conducts business with you relies on the W-9 form as a source for your personal information, the most important of which is the taxpayer Identification Number are doing business with uses the W-9 to collect some of your personal information, the most important of which is your taxpayer identification number (TIN).

For more than half a century, tax professionals have relied on Bloomberg BNA to help them offer their clients the best advice possible.

Discover how these practitioners are using our resources to optimize their practice.

And how the expertise of Bloomberg BNA speaks volumes.

An Employer Identification Number (EIN) is a nine digit number associated with a company or corporation.

The obligation to withhold and to pay payroll taxes applies to employers with workers who are properly classified as employees as opposed to independent contractors. The benefit of having workers classified as independent contractors is that generally, businesses are not responsible for payroll tax obligations.

On the other hand, only in rare circumstances will a business be relieved from payroll tax obligations with respect to employees.

Your comment will be read by our web staff, but will not be published. Your comment is voluntary and will remain anonymous, therefore we do not collect any information which would enable us to respond to any inquiries.

But this does not mean that the requester has an obligation to file the W-9 with the IRS.

The requester must keep the form or a copy of the form on file, and utilize the provided information when preparing for information returns (like 1099s and 1098s).

There are different steps you can take to verify your own tax ID number if you can't locate it, or to find the tax ID numbers of other organizations.

If you are not sure of your own EIN, you can call the IRS's Business and Specialty Tax Line maintained at 800-829-4933.

Leave a Reply