The tax filing season has recently arrived in the United States. I believe there are many friends who are still confused about the three words EIN, SSN, and ITIN. This is not okay. In order to complete it better and faster Filing taxes, let’s learn about it with Fei Jie today!
1. U.S. companies and corporate tax filing numbers - EIN (U.S. Employer Identification Number) EIN, also known as the U.S. Employer Identification Number, also known as the federal A tax identification number is a number used by the U.S. Internal Revenue Service to identify each company's taxpayers. Basically every U.S. company must apply for a federal tax ID number for future company tax returns. EIN is also one of the company documents that must be provided when opening a corporate bank account in the United States. EIN applies not only to companies or entities registered in the United States, but also to companies or entities and individuals registered outside the United States and conducting business activities in the United States. If a foreign company registers a company in the United States, it should first apply for an EIN, otherwise it will not be able to do business, open a bank account, or file year-end taxes in the United States. In addition to the above situations, EIN is also used in daily operations. If a company needs to open a bank account, apply for a credit card, apply for a business license, or pay state and local taxes in the United States, it must report its U.S. employer identification number. Related information.
2. Personal tax number for Americans - SSN (U.S. Social Security Number) SSN refers to the U.S. Social Security Number, which is issued by the U.S. Social Security Administration to U.S. citizens, U.S. green card holders, and temporary ( job) A nine-digit number for a resident. The original purpose of SSN was to track an individual's tax status, but it has now been expanded to include distinguishing personal identity, similar to the role of China's "resident identity card number", and is bound to an individual's credit. A Social Security number is required when applying for a loan, applying for a credit card, filing taxes, etc. in the United States.
3. Individual Tax ID Number for Non-U.S. Persons - ITIN (Individual Tax Identification Number) ITIN, which is the Individual Tax Identification Number, is a service provided by the U.S. Federal Tax Service to non-U.S. citizens, that is, those who do not have an SSN social security number. However, the tax filing number set up by individuals who need to file tax returns is the same as the Social Security number. The ITIN number is also nine digits. ITINs have no purpose other than federal tax purposes. It should be noted that having an ITIN does not mean that you can work legally in the United States, nor can you enjoy American social welfare. It can be said that the role of ITIN is only for non-SSN individuals to file personal taxes. Having said this, I believe everyone has understood that SSN and ITIN are both tax IDs used by individuals to file taxes. The difference lies in the identity of the tax filer, while EIN is a tax ID used by companies or enterprises to file taxes. SSN is associated with an individual's credit, and EIN is associated with a company's credit.