Whenever a tax form is going to be issued to you, your information—the taxpayer identification number/Social Security number to be particular is needed. As a taxpayer yourself, you will provide your necessary personal information with the Form W-9.
Unlike most other IRS tax forms, the Form W-9 is not updated every year. While a few other documents like the USCIS Form I-9 for example is the same, that one comes with an expiration date on it. The Form W-9, Request for Taxpayer Identification does not. Therefore, make sure you file the most recent one. In 2021, you are going to file the one with the revision date of October 2018. As of now, this is the most recent Form W-9.
We can say for sure that this is the tax form that you’re going to use in 2021 for a number of reasons. The obvious one is that whenever the IRS renews a tax form, the agency releases a draft version of the form. After about six months of the release, the agency lifts off the draft version of the form and makes it the official document. For this to happen, no changes are required.
Even the revision date change on the Form W-9 which you can see on the upper left corner will require taxpayers to complete the most recent one. Therefore, you shouldn’t really look for any changes on Form W-9 to complete the newest one. Besides, there isn’t much to change on the Form W-9 as it serves only one purpose—to provide your taxpayer identification number to the requester.
Reasons for Filing a Form W-9
In any case, where your taxpayer identification number is required so that the requester can accurately meet their tax obligations, you will have to file a Form W-9. The most common use of Form W-9 is between freelancers/contractors and their payers. Also, insurance companies may request a Form W-9 before giving you any money.
If you just started freelancing, you may be requested to fill out and submit a Form W-9 multiple times already. Fed up with it already? Since you don’t need to enter the requester’s name and address on the Form W-9, file multiple copies and send them right away when asked for it.