Taxpayer Identification Number (TIN)

Search Dictionary

Definition of 'Taxpayer Identification Number (TIN)'

A Taxpayer Identification Number (TIN) is a number assigned to individuals and businesses by the Internal Revenue Service (IRS) for the purpose of tracking their tax records. The most common type of TIN is the Social Security number (SSN), which is issued to U.S. citizens and permanent residents. Other types of TINs include the Individual Taxpayer Identification Number (ITIN), which is issued to non-resident aliens, and the EIN, which is issued to businesses.

TINs are used by the IRS to identify taxpayers and track their tax payments. They are also used by other government agencies, such as the Social Security Administration and the Department of Motor Vehicles, to identify individuals and businesses.

There are a few important things to know about TINs. First, they are not the same as credit card numbers or bank account numbers. They are not used for financial transactions, and they should not be shared with anyone who does not need to know them. Second, TINs are not secret. They are publicly available information, and anyone can look up a person's TIN by their name and Social Security number. Third, TINs are not permanent. They can be changed if a person's name or Social Security number changes.

If you have any questions about TINs, you can contact the IRS at 1-800-829-1040.

Do you have a trading or investing definition for our dictionary? Click the Create Definition link to add your own definition. You will earn 150 bonus reputation points for each definition that is accepted.

Is this definition wrong? Let us know by posting to the forum and we will correct it.