There has been some confusion regarding whether independent contractors need to fill out a W4 form.
An independent contractor is a self-employed individual who provides services to clients but is not considered an employee. They are responsible for reporting and paying their own taxes.
According to the Internal Revenue Service (IRS), independent contractors do not need to fill out a W4 form. This form is used by employers to determine how much federal income tax to withhold from an employee’s paycheck. Since independent contractors are not employees, they are not subject to income tax withholding.
However, it is important to note that independent contractors are still required to pay taxes on their income. They are responsible for estimating and paying their own federal and state taxes. To do so, they can use form 1099 to report their income and expenses.
To learn more about the tax obligations of independent contractors, you can visit this resource.
Therefore, independent contractors do not need to fill out a W4 form, but they must still fulfill their tax obligations by reporting and paying their taxes.
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