In order to reach a clear conclusion about TIN vs EIN, it is necessary to understand and know both terms fully. These identity numbers provided by the United States are defined as accounts that individuals should use after they are involved in the tax system. In short, the people who will carry out commercial activities and earn an income within the scope of the United States must have these numbers.
We wanted to compile what you need to know about TIN vs EIN. You can make a more straightforward decision on which number you should apply for before starting commercial activities. You can make all your applications with us by taking advantage of our EIN number online services.
TIN vs EIN: What Is EIN Number?
We wanted to take a closer look at both grips to reach a clear opinion about the TIN vs EIN difference. EIN is a nine-digit number given by IRS to people with a company in the USA. EIN, the abbreviated version of the Federal Employer Tax ID Number, also enables the control of whether the companies are carried out in accordance with tax law. In addition, thanks to EIN, a bank account can be opened on behalf of the company or a credit request can be made. In the same way, this number is needed to get new employees to the company.
If we summarize the information about EIN, this number is a kind of SSN. Namely, EIN, which can be a Social Security Number of the company, is the number that every enterprise carries out commercial activities in the United States.
TIN vs EIN: What Is TIN Number?
To give the correct answers to the question of “do I Need Tin vs ein”, you need to have information about the TIN. TIN is a kind of identity number given to non-US citizens. This timbre provided by IRS is the abbreviated version of the Individual Taxpayer Identification Number. Just like EIN, some documents-write a nine-digit number as ITIN.
TIN Number is an identification number given to individuals and is completely personalized. Anyone with taxpayers within the scope of the United States must receive this number. The people who need to take numbers are as follows:
- Those who do not have Social Security Number and cannot get SSN should apply for ITIN if they are taxpayers in the USA.
- Those who do not reside in the USA but will apply for tax refunds should also receive an ITIN number.
- It is also essential that people who have received a temporary residence permit applications for the TIN number.
- People who have migrated to the USA and are applying for a tax refund should apply for a TIN Number for both themselves and their family members.
TIN vs EIN: What’s the Difference?
If you have more or less knowledge about ITIN and EINs, we can now discuss the differences between these two concepts.
EIN is usually an identification number given to companies. In other words, if you are connected to a company in the USA or have a direct workplace, you should apply for EIN. To carry out the tax transactions of your company and to open a bank account on behalf of your company, you must make this application. Moreover, you are definitely expected to have an EIN number to get a new employee to your company.
ITIN number is an individual number given personalized. In other words, in order to carry out tax-related transactions in the USA, individuals must take IT. In particular, people who do not have SSNs should apply for an ITIN number.
In some cases, you can use ITIN instead of EIN. However, EIN does not replace ITIN in any way. While EIN is only an identification number that defines the company, ITIN represents the individual.
You can contact us immediately if you want to apply for ITIN or EIN. As ein-itin.com, we can always support you with applications to IRS. By applying online through us, you can follow the process from the country where you reside. Thanks to us, you can make all the ITIN and EIN applications by taking the proper steps and ensuring that the application is concluded without any problems.
Ein-itin.com is a brand of Cohen Investment LLC, act as a Certified Acceptance Agency. Ein-itin.com provides professional services to prepare and apply for an Individual Tax Identification Number (ITIN) to submit through IRS. As a Certified Acceptance agent , Ein-itin.com prepares and submits applications for an Individual Taxpayer Identification Number (“ITIN”) on behalf of their applicants. Ein-itin.com tracks the application processing and notifies ITIN Applicants for their ITIN Confirmations. Ein-itin.com understands the applicant situation, inform before the ITIN Application process. Ein-itin.com helps to applicant to apply for their ITIN in a convenient way to avoid mistakes and rejection for ITIN Application. Any individual may hire us to prepare, submit and obtain his or her ITIN Number (via W7 Form) application to the IRS.