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Form W-9 is one of those really simple IRS Forms that has precisely one function: it lets you send your Tax identification number (TIN)—which is your employer identification number (EIN) or your social security number (SSN)—to another person, bank, or other financial institution.
Can a tax ID start with 999?
An ITIN has nine numbers in the same format as an SSN and always begins with the number 9. Foreign Individual taxpayer Identification Number – ITINs issued to foreign persons start with 999 (999-XX-XXX) and the fourth digit is a 7 or an 8 (999-7XX-XXXX or 999-8XX-XXXX).
Do I put my SSN or EIN on w9?
For individuals or a sole proprietor, the first line of the W-9 form and 1099-MISC tax form should be the first and last name along with the Social Security Number or EIN. However, the IRS prefers the Social Security number. The business name can be entered on the line 2 of the W-9 form.
Who is eligible for w9?
W-9 forms are for self-employed workers like freelancers, independent contractors and consultants. You need to use it if you have earned over $600 in that year without being hired as an employee. If your employer sends you a W-9 instead of a W-4, the company has likely classified you as an independent contractor.
Do all ITIN start with 9?
The ITIN is a nine-digit number that always begins with the number 9 and has a range of numbers from 50 to 65, 70 to 88, 90 to 92, and 94 to 99 for the fourth and fifth digits. The ITIN is formatted like a SSN: 9XX-7X-XXXX. Many immigrants have ITINs.
Can an EIN start with 9?
Other EINs beginning with “9” are perfectly appropriate on Form W-9 since they are issued to U.S. companies, trusts, and estates. It is only the “98” range of EINs that has been issued mostly to non-U.S. entities and that is listed in I.R.C.
Can I use an EIN instead of SSN?
You can use an EIN instead of an SSN on W-9. It is not possible to use an EIN for these purposes. Because lenders and credit rating agencies know the difference between an SSN and EIN, it reduces the potential of damaging your credit rating even if fraudsters can access your personal information.
Who is exempt from providing a W9?
To qualify as exempt for W-9 purposes, the payee must be one of the following: Any IRA, an organization exempt from tax per section 501(a), or a custodial account per section 403(b)(7) if said account meets the criteria of section 401(f)(2) Corporation. Financial institution.
Who is not required to fill out a W9?
If you are a full-time employee, it’s not necessary to fill out a W-9. It’s only required of independent contractors, freelancers and possibly part-time employees. Also be hesitant if your bank requests you to fill in a W-9.
How is SSN different from ITIN?
The main difference between an SSN and ITIN is that SSN is issued to US citizens and authorized non-citizens, while ITIN is issued to the resident with foreign status or undocumented immigrants. The latter cannot be issued an SSN, but if they are allowed to stay in the US, then they have to pay their taxes.
Can an ITIN start with an 8?
A valid TIN can have only 9 numbers. It cannot have more or less than nine numbers nor can it have a combination of numbers and an alpha character within the sequence. A valid ITIN will always begin with a “9.” A valid SSN cannot begin with “8,” “9,” or “000.”
Can an EIN start with 37?
Prior to 2001, the first two digits of an EIN (the EIN Prefix) indicated the business was located in a particular geographic area….Daily Limitation of an Employer Identification Number.
| Campus/Other Location | Valid EIN Prefixes |
|---|---|
| Cincinnati | 30, 32, 35, 36, 37, 38, 61 |
| Fresno | 15, 24 |
| Kansas City | 40, 44 |
| Memphis | 94, 95 |