NEWS & BLOG
Views: 76 Author: Site Editor Publish Time: 2022-10-31 Origin: Site
In the U.S., whether you are an individual or a corporation, you must file a tax return as long as you have income. There are three types of identification numbers or tax ID numbers that you need to provide when filing your taxes, TIN, SSN, ITIN and EIN, and today we will talk about what the differences are between these four.
Here is the list of contents:
· What is TIN Number?
· What is the difference between TIN, SSN, ITIN and EIN?
· What is SSN Number?
· What is ITIN Number?
· What is EIN Number?
A Taxpayer Identification Number ( TIN ) is an identification number used for tax purposes in the United States and other countries according to Common Reporting Standards.
In the United States, it is also known as a tax identification number or federal taxpayer identification number. TINs can be assigned by the Social Security Administration or the Internal Revenue Service (IRS).
Any government-provided number that can be used as a unique identifier when interacting with the IRS in the United States is a TIN, although none of them are specifically called taxpayer identification numbers.
A TIN may be a Social Security number (SSN); may be an Individual Taxpayer Identification Number (ITIN); maybe an Employer Identification Number (EIN), also known as a FEIN (Federal Employer Identification Number)
SSN used by people who have or had the right to work in the United States. an Adoption Taxpayer Identification Number, used as a temporary number for a child for whom the adopting parents cannot obtain an SSN.
a Preparer Tax Identification Number, used by paid preparers of US tax returns
ITIN used by aliens who may or may not have the right to work in the US, such as aliens on temporary visas and non-resident aliens with US income.
EIN used by employers, sole proprietors, corporations, LLCs, partnerships, non-profit associations, trusts, estates of decedents, government agencies, certain individuals, and other business entities.