Get the free W-9 Tax Form for Research Study Payments - dartmouth

This document provides information regarding the tax implications of receiving payments for participating in a research study, including the requirement to fill out a W-9 form.

How to fill out w-9 tax form for

How to fill out W-9 Tax Form for Research Study Payments

1. Obtain the W-9 form from the IRS website or the institution conducting the research.
2. Fill in your name as it appears on your tax return in line 1.
3. If applicable, enter your business name or disregarded entity name in line 2.
4. Check the appropriate box for your tax classification (individual/sole proprietor, corporation, partnership, etc.) in line 3.
5. Enter your address in lines 4 and 5, including city, state, and ZIP code.
6. Provide your Taxpayer Identification Number (TIN) in line 6, which can be your Social Security Number (SSN) or Employer Identification Number (EIN).
7. If you are exempt from backup withholding, you may need to fill out line 7; otherwise, leave it blank.
8. Sign and date the form at the bottom to certify that the information is correct.
9. Submit the completed W-9 form to the entity conducting the research, not to the IRS.

Who needs W-9 Tax Form for Research Study Payments?

1. Individuals and entities receiving payments for participating in research studies are required to complete a W-9 form.
2. Researchers or institutions who are making payments to study participants need the W-9 form for tax reporting purposes.

People Also Ask about

What is the tax form for research stipend?

The IRS explains that your stipend may be reported on Form W-2 or Form 1099-MISC. You are responsible for determining whether you were paid as an employee or independent contractor and whether or not the income is subject to self-employment taxes. If you receive a Form W-2, enter it as a Form W-2 in the TaxAct program.

How do I report a PHD stipend on my taxes?

Stipends reported to you on a stipend letter are treated for tax purposes as taxable scholarships. Per IRS Publication 970, taxable scholarships and fellowships should be reported on the tax return as follows: Form 1040 – Schedule 1, Ln 8r Scholarship and fellowship grants not reported on Form W-2.

Do you get a tax form for a stipend?

The IRS explains that your stipend may be reported on Form W-2 or Form 1099-MISC. You are responsible for determining whether you were paid as an employee or independent contractor and whether or not the income is subject to self-employment taxes. If you receive a Form W-2, enter it as a Form W-2 in the TaxAct program.

Is a research stipend taxable?

Most stipends are considered taxable income by the IRS. This means that if you receive a stipend, you'll likely need to report it on your tax return and pay taxes on the amount. However, certain stipends may be tax-free up to IRS-designated annual contribution limits.

Do universities have W9 forms?

The University is required to file 1099 Miscellaneous Income information with the Internal Revenue Service each year. In order to do this, the University needs a correct federal employer identification number (EIN) or Social Security Number (SSN) for each supplier. Form W-9 is used to gather this information.

Is there a fillable W9 form?

A fillable W-9 is not a tax return and is not filed with the IRS. It is a form used by the payees to provide their TIN information to the payers for accurate 1099 filing. On the other hand, 1099 is a tax return that the payers file with the IRS to report their payments to the respective payees.

For pdfFiller’s FAQs

What is W-9 Tax Form for Research Study Payments?

The W-9 Tax Form is an Internal Revenue Service (IRS) form used by individuals and entities to provide their taxpayer identification information. In the context of research study payments, it is used to collect information from participants who may receive compensation, ensuring proper tax reporting.

Who is required to file W-9 Tax Form for Research Study Payments?

Individuals or entities who are receiving payments for participating in research studies and are U.S. citizens or resident aliens are required to file a W-9 form. This includes researchers, research participants, or any organization involved in the study that provides payments.

How to fill out W-9 Tax Form for Research Study Payments?

To fill out the W-9 form, you need to provide your name, business name (if applicable), address, taxpayer identification number (TIN), and the appropriate tax classification (individual, corporation, etc.). Be sure to sign and date the form before submitting it.

What is the purpose of W-9 Tax Form for Research Study Payments?

The purpose of the W-9 Tax Form for research study payments is to collect the necessary tax information from participants for accurate reporting to the IRS. It helps ensure that any income earned through the study is reported and taxed accordingly.

What information must be reported on W-9 Tax Form for Research Study Payments?

The W-9 form requires reporting of the individual's name, business name (if applicable), address, taxpayer identification number (TIN), and the appropriate federal tax classification.