A tax identification quantity (TIN), also referred to as a taxpayer identification quantity, is a singular identifier utilized by tax authorities to determine taxpayers. For people, it’s usually a social safety quantity (SSN) or particular person taxpayer identification quantity (ITIN). For companies, it’s usually an employer identification quantity (EIN).
TINs are used to determine taxpayers and observe their tax funds. They’re additionally used to confirm the identification of taxpayers and to forestall fraud. The usage of TINs has change into more and more essential in recent times because the IRS has stepped up its efforts to fight tax fraud and identification theft.
