A W-9 form is an official document from the Internal Revenue Service (IRS) used to collect information from individuals or entities who receive payments from businesses. For example, if a freelancer provides services to a company, the company may require the freelancer to fill out a W-9 form so that the company can report the payments to the IRS.
The W-9 form is important because it helps businesses comply with federal tax reporting requirements. Businesses are required to report payments to individuals or entities who receive more than a certain amount of money from them in a given year. The W-9 form helps businesses track who they have made payments to and how much they have paid each person or entity.