The purpose of Form W-9 is to request a taxpayer identification number (TIN) from a U.S. person or resident alien. The form is typically used by businesses to obtain the necessary information to report payments made to individuals and entities, such as independent contractors, to the IRS.
What is the purpose of Form W-9?
To claim deductions and credits on an individual tax return.
To report an employee's wages to the IRS.
To report income earned from self-employment.
To request a taxpayer identification number (TIN) from a U.S. person or resident alien.
3 answers
Which of the following items is included in a taxpayer's federal gross income?
Compensation received for personal injuries and physical illness.
The first $5,250 of educational assistance from an employer's qualified educational assistance program.
Qualified scholarships and fellowships.
Unemployment compensation.
Compensation received for personal injuries and physical illness.
The first $5,250 of educational assistance from an employer's qualified educational assistance program.
Qualified scholarships and fellowships.
Unemployment compensation.
Among the items listed, unemployment compensation is included in a taxpayer's federal gross income.
The other items (compensation for personal injuries and physical illness, the first $5,250 of educational assistance from an employer's qualified program, and qualified scholarships and fellowships) may have exclusions or exceptions that could allow them to be excluded from federal gross income under certain conditions.