What is a tax ID number?

Home Forums Taxes What is a tax ID number?

  • Author
    Posts
  • #29056
    StellarFi
    Keymaster
    #29067
    StellarFi
    Keymaster

    A tax identification number (TIN) is a unique nine-digit number assigned to you for identification by the Internal Revenue Services (IRS). You need a TIN to file your tax returns and other official purposes. Either the Social Security Administration or the IRS assigns this number to you. 

    There are different types of TINs:

    Individual taxpayer identification number (ITIN) is a 9-digit tax ID number for nonresident or resident aliens, spouses, and dependents who cannot get a Social Security number (SSN). The IRS issues the ITIN so that they can pay their taxes easily.

    There is a Tax ID for businesses called the employer identification number (EIN). People in the process of adopting a child are assigned a temporary adoption taxpayer identification number (ATIN). The IRS assigns this number in case the adopting parents can’t get a social security number for the child in time to file their taxes. This number identifies the child and is required for the parent to claim the child as a dependent. 

    A preparer tax identification number (PTIN) is for anyone who prepares or helps in preparing federal tax returns for compensation. These people are given a PTIN by the IRS and must put the number on their client’s tax returns.

  • You must be logged in to reply to this topic.

StellarFinance, Inc. and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.

Related questions

Home Forums Taxes Credit Reports & Scores

  • You must be logged in to create new topics.