Tax Identification Number

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Tax Identification Number

A number the IRS assigns to businesses and other entities, such as trusts, for tax purposes. While the TIN exists for a variety of reasons, its main function is to ensure that each organization is billed for its own taxes, and not those of another entity with the same name. Social Security numbers serve as TINs for individuals.
References in periodicals archive ?
Last month, the Department of Finance said the BIR is fast-tracking the processing of Taxpayer Identification Numbers (TIN) for foreign nationals working in the country, including those working in the Pogo sector.
Nearly 2 million Individual Taxpayer Identification Numbers (ITINs) are set to expire at the end of 2019 as the IRS continues to urge affected taxpayers to submit their renewal applications early to avoid refund delays next year.
Nearly 2 million Individual Taxpayer Identification Numbers (ITINs) are set to expire at the end of 2019 as the Internal Revenue Service continues to urge affected taxpayers to submit their renewal applications early to avoid refund delays next year.
Finance Secretary Carlos Dominguez III, however, noted that some of the names in the list do not have Taxpayer Identification Numbers (TINs).
According to him, the service is working in concert with various data management agencies and has developed a robust taxpayer database based on which unique taxpayer identification numbers were assigned to every taxpayer in the FCT in line with Section 7 (g) of the FCT-IRS Act of 2015.
Individual taxpayer identification numbers (ITINs) are commonly used by undocumented taxpayers who have a tax filing requirement.
Individual taxpayer identification numbers (ITINs) are used for a number of tax reporting purposes.
The document noted that many commenters had questioned the need for donee reporting, and expressed "significant concerns" about nonprofits collecting and maintaining taxpayer identification numbers.
The apparent scam is nothing new for the IRS.CNSNews.com's Terence Jeffrey reported that since 1996 "the IRS has issued what it calls Individual Taxpayer Identification Numbers (ITINs) to two classes of persons: 1) non-resident aliens who have a tax liability in the United States, and 2) aliens living in the United States who are 'not authorized to work in the United States."
New Internal Revenue Service requirements for foreign individuals requesting Individual Taxpayer Identification Numbers (ITINs) are the topic of a recent blog posted by attorney and Certified Public Accountant Jo Ann Koontz on koontzassociates.com.
They also require neither credit history nor taxpayer identification numbers.
* Be sure to plug in Taxpayer Identification Numbers (usually Social Security numbers) for your children and other dependents on your return.

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