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Do I Need an SSN, EIN, or ITIN? How Are They Different?
Don’t know the difference between an SSN, EIN, or ITIN? We break it down in this post.
Tax numbers are confusing for many. How do you tell the difference between a Social Security Number, Employer Identification Number, and Tax Identification Number? Can you use them interchangeably? You might wonder, “Do I need an SSN, EIN, or ITIN?” Read on to understand the difference between EIN, SSN, and ITIN and when you’ll need each.
Understanding Tax Identification Number (TIN)
A Tax Identification Number (TIN) is a unique number identifying an individual, business entity, or non-profit organization. Each person or company must have its own TIN. Taxpayer identification numbers are available from any country, but the application process and format vary.
In the US, anyone filing annual tax returns with the IRS must have a TIN. These include SSN, EIN, ITIN, ATIN, and PTIN. The IRS uses these nine-digit numbers to track taxpayers.
The two most common US tax identification numbers are Social Security Numbers (SSN) and Employer Identification Numbers (EIN). In addition, the US issues an Individual Taxpayer Identification Number (ITIN) to nonresidents or resident aliens, their spouses, and children if they meet certain criteria. You may also be eligible for a TIN for pending US adoptions, called an ATIN. There’s also a preparer Taxpayer Identification Number called PTIN.
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Don’t know the difference between an SSN, EIN, or ITIN? We break it down in this post.
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