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The IRS uses your Social Security Number when submitting your personal tax return, but your SSN may also be used to prove your identity on medical or educational forms. 2. Individual Tax ID Number
Internal Revenue Code section 6109(d) provides: "The social security account number issued to an individual for purposes of section 205(c)(2)(A) of the Social Security Act [codified as 42 U.S.C. § 405(c)(2)(A)] shall, except as shall otherwise be specified under regulations of the Secretary [of the Treasury or his delegate], be used as the ...
For instance, the 1040 form that most people use to file their federal income taxes may request your taxpayer identification number or Social Security number. Check Out: What To Do If You Owe Back ...
An Individual Taxpayer Identification Number (ITIN) is a United States tax processing number issued by the Internal Revenue Service (IRS). It is a nine-digit number beginning with the number “9”, has a range of numbers from "50" to "65", "70" to "88", “90” to “92” and “94” to “99” for the fourth and fifth digits, and is formatted like a SSN (i.e., 9XX-XX-XXXX). [1]
In some cases, such as a sole proprietorship, an SSN may be used as a business Tax ID without applying for a separate EIN, but in order to hire employees or establish business credit, an EIN is required. Unlike a SSN, an EIN is not considered sensitive information and is freely distributed by many businesses by way of publications and the internet.
If you are age 12 or older and have never received a Social Security number, you must apply in person. A Social Security number makes it easier to open financial accounts in the U.S., as well as ...
Although the original purpose for the number was for the Social Security Administration to track individuals, [1] the Social Security number has become a de facto national identification number for taxation and other purposes. [2] A Social Security number may be obtained by applying on Form SS-5, Application for a Social Security Number Card. [3]
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