Q:

What is the difference between an EIN and a TIN?

A:

A taxpayer identification number, or TIN, is used by the Internal Revenue Service to track individuals and entities for tax purposes, and an employer identification number, or EIN, is one form of a TIN. Many people confuse a TIN with an individual taxpayer identification number, or ITIN, which is also a form of a TIN.

An EIN is used by the IRS to recognize a business. Businesses must submit a form requesting an EIN when they open so that any taxes paid while operating as the business can be tracked separately from personal taxes. An ITIN is for nonresident and resident aliens who cannot obtain a Social Security number. A TIN must be on any tax related documents sent to the IRS, including tax returns and treaty benefit claim forms.

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Related Questions

  • Q:

    How do you apply for an EIN?

    A:

    Apply online using the EIN Assistant, by faxing or mailing a completed SS-4 form to the IRS or by calling and answering the SS-4 form questions over the phone. This allows a self-employed person to get a unique tax ID number for business use, instead of using a Social Security number.

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  • Q:

    What does EIN stand for?

    A:

    EIN is an abbreviation for Employer Identification Number. It is also known as a Federal Tax Identification Number. An EIN is used by the Internal Revenue Service (IRS) in identifying a business for tax purposes.

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  • Q:

    How can I verify an IRS EIN?

    A:

    An online Federal Employer Identification Number search service, such as KnowX, can be used to verify the Employer Identification Number of a company. KnowX is a free service, while many FEIN search services are fee-based.

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  • Q:

    How do you verify the EIN number for a business?

    A:

    EIN numbers can be verified through several tax documents, such as a W-9 for the company or an employee W-2 form that contains the employer's EIN. An EIN number is the Employer Identification Number the IRS assigns to a business.

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