W-9 and 1099 Misc. What is the difference ?

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What is the difference between W-9 and 1099 Misc. ? My current boss gives me 1099 Misc. instaed of W-2. The new company I talked to say they give W-9 and not W-2. What ...show more

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  • answered 3 years ago
    Purpose of W-9 Form

    A person who is required to file an information return with the IRS must obtain your correct taxpayer identification number (TIN) to report, for example, income paid to you, real estate transactions, mortgage interest you paid, acquisition or abandonment of secured property, cancellation
    of debt, or contributions you made to an IRA.

    Use Form W-9 only if you are a U.S. person (including a resident alien), to provide your correct TIN to the person requesting it (the requester) and, when applicable, to:

    1. Certify that the TIN you are giving is correct (or you are waiting for a number to be issued),

    2. Certify that you are not subject to backup withholding, or

    3. Claim exemption from backup withholding if you are a U.S. exempt payee. If applicable, you are also certifying that as a U.S. person, your allocable share of any partnership income from a U.S. trade or business is not subject to the withholding tax on foreign partners’ share of effectively connected income.
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  • edited 3 years ago
    A W9 is a form used to request a tax payer identification number - it's not like a W2 which reports wages paid to an employee. This is used by companies to determine if they are required to send you a 1099 MISC form which is used to report rents, royalties, payments made to attorneys, etc and in your case non-employee compensation. In other words they use the info from the W9 (your name, ssn, address, etc) to file the 1099 MISC. There are plenty of "W2" jobs around and in many cases employers are trying to avoid payroll taxes and benefits by illegally classifying workers as independent contractors. Without knowing details there's no way to determine if that's the case here.
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  • answered 3 years ago
    a W-2 is the annual report of wages of an employee, you submitted a W-4 information form to your employer with the important information with your name, address, sSn and the status you claim as well as dependents, to be correct the employer should have had you also complete an I-9 when he hired you
    taxes will be withheld each pay check you should get a pay stub to see what deductions are being withheld
    a W-9 is the information form which you provide anyone you perform services for and this person pays you an aggregate of $600 or more for the year, he will issue you a 1099. This is your status as an independent contractor, which means you are independent, you provide your own tools, you perform the duties contracted for, you do them at your time table(not the contractee) you are not eligible for unemployment and you provide your own workmens comp liability if you want to protect yourself due to injury
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  • answered 3 years ago
    1099Misc means you are a self employed sub contractor.
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