The Importance Of Your IRS Taxpayer Identification Number (TIN)
Updated: Nov 3, 2021
The Internal Revenue Service (IRS) uses a Taxpayer Identification Number (TIN) to identify individuals who are subject to tax laws. It is issued by either the Social Security Administration (SSA) or the IRS. The SSA issues Social Security Numbers, while the IRS issues all other TINs.
Different Forms Of TINs
Social Security number "SSN"
Employer Identification Number "EIN"
Individual Taxpayer Identification Number "ITIN"
Taxpayer Identification Number for Pending U.S. Adoptions "ATIN"
Preparer Taxpayer Identification Number "PTIN"
Do I Really Need One?
On returns, statements, and other tax-related documents, a TIN must be provided. A number, for example, must be provided:
When it comes to submitting your tax returns
When it comes to claiming treaty benefits
If the beneficial owner is claiming any of the following, a TIN must be included on the withholding certificate:
Tax treat benefits
Exemption for income that is effectively connected
Certain annuities are exempt
For Your Tax Relief Programs
Whatever reason it may be, if it's tax-related, it's a good rule of thumb to have your Taxpayer Identification Number on hand. It could include filing your taxes or it could be to qualify for a relief program, but at the end of the day, everybody wants to pay the least amount of taxes as possible. Even if you're told that you owe over $10,000, you may not have to pay off the whole balance. The IRS understands that many people simply cannot afford to pay the high tax bills that they impose. There's a relief program that consolidates many major relief programs into a one-size-fits-all assistance program; The IRS Fresh Start Program. Our clients are referred to our Fresh Start Program in order to avoid bankruptcy, acquire debt relief, and settle their debts in a quick manner. Let us give you a helping hand today!
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