Can I Use My Ssn as an Independent Contractor?
Ideally, the subcontractor’s Social Security number is obtained before any payments are made for work completed for you. Form W-9 can be used for that purpose, although it is not required. To maintain compliance with IRS guidelines, you must make a formal request to the subcontractor for his identification number before the end of the year.
Do you have to report payments to independent contractors?
If you pay independent contractors, you may have to file Form 1099-MISC, Miscellaneous Income, to report payments for services performed for your trade or business.
Do you have to withhold taxes from an independent contractor?
Generally, you must withhold income taxes, withhold and pay Social Security and Medicare taxes, and pay unemployment tax on wages paid to an employee. You do not generally have to withhold or pay any taxes on payments to independent contractors. I am an independent contractor or in business for myself.
