When employees fill out the paper, section 7 often raises lots of concerns. It is not clear what numbers have to be provided and what it is needed for. Some might think that it relates to W-9 sole proprietor ein or anything else the following aspects have to be beard in mind when this part of the document is reached:
- Part 7 is purely optional;
- It has nothing to do the status of the business;
- There is nothing that is related to single or multiple ownership of sole proprietor;
- If an individual is unsure of something, he is free not to fill it out;
What people must write in account numbers section in W-9 document?
For instance, if a person works in freelance industry or carries out some other activities, which may generate some more revenues apart from the place of current employment, providing number could be crucial. Although, it is still not an obligation to fill this part out, it is better to do so if:
- If gov in the form of IRS owes a person any amount taxes that have to be returned back;
- In case if pre-payments of tax liabilities have been made;
- If a person is a part time employee and may have any other employment;
- If a person is a contractor;
- If an individual works as a freelancer;
- If a person has any other revenues;
If any of the above mentioned criteria are applicable, it is better to write accounts a taxpayer has with IRS. It is as simple as that.
And this article in our Blog can help you understand how to add e-signature.