All taxpayers and any dependent claimed on a tax return must have a taxpayer ID number. There are several different types of taxpayer IDs, so here’s a quick summary of each one for your reference:
- Social Security Number (SSN): The vast majority of taxpayers use their SSN as their tax ID. All dependents (regardless of age) claimed on your tax return must also have an SSN or other tax ID for you to claim certain exemptions and tax credits.
- Adoption Taxpayer Identification Number (ATIN): When a resident child or US citizen who is being adopted does not yet have an SSN, you may be able to obtain an alternate tax ID called an ATIN. Once the adoption is finalized, you need to acquire an SSN for the child.
- Individual Taxpayer Identification Number (ITIN): Non-resident or resident aliens who are not eligible for an SSN can apply to the IRS for an ITIN.
- Federal Employer Identification Number (FEIN): If you have household employees such as a nanny or housekeeper, or you are self-employed and employ staff members, you need to obtain a FEIN. Self-employed taxpayers with a Keogh plan (a type of retirement plan) must also obtain a FEIN, regardless of whether they have any employees.
Have questions about what type of taxpayer identification number you need? Need to resolve a tax problem stemming from a taxpayer ID error? Call in Taxation Solutions, Inc. for complete tax help. Our team has 40+ years of tax resolution experience to put to work for you!