taxpayer 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.

taxpayer identification number (TIN)

For an individual, his or her Social Security number. For a business or fiduciary, its Employer Identification Number.
References in periodicals archive ?
It does not need to obtain a new taxpayer identification number.
They may avoid entering phone numbers or taxpayer identification numbers if the accounting system does not require this information in order to issue a check.
The taxpayer must enter the responsible party's old and new Social Security number, individual taxpayer identification number, or EIN unless the only reason the taxpayer obtained an EIN was to make an entity classification election (see Regs.
Separate calculation, reporting, and payment of all employment tax obligations by each state law entity with respect to its employees under its own name and taxpayer identification number.
Exhibit (20)(10)00-7 provides an explanation of the taxpayer identification number (TIN) validation process.
3406 requires backup withholding (currently 28%) if the payee fails to furnish a correct taxpayer identification number (TIN) or the payer has been notified by the IRS that the payee has previously underreported interest or dividend income.
A number beginning with the number 9 may be an Individual Taxpayer Identification Number issued to a nonresident without a work permit.
Any changes that might be needed to Form W-9, Request for Taxpayer Identification Number and Certification, and related rules for soliciting taxpayer identification numbers (TINs), and other concerns regarding identifying payees.
If such a payment is subject to information reporting, and the payee has not certified his or her taxpayer identification number (TIN) on Form W-9, Request for Taxpayer Identification Number and Certification (or certain other conditions exist), the payer must perform "backup" withholding at 28%.
Also, the final regulations simplify the filing requirements of an electing trust, as well as the procedures for furnishing a taxpayer identification number to payors.
In administering this exception, payers would have to possess the means of verifying a payee's taxpayer identification number (TIN) and its eligibility for exemption.

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