Individual Taxpayer Identification Number

Business, Legal & Accounting Glossary

Definition: Individual Taxpayer Identification Number




Full Definition of Individual Taxpayer Identification Number


An Individual Taxpayer Identification Number (or ITIN) is a United States tax processing number issued by the Internal Revenue Service. It is a nine-digit number that begins with the number 9 and has a 7 or 8 in the fourth digit, example 9xx-7x-xxxx or 9xx-8x-xxxx. The IRS issues ITINs to individuals who are required to have a taxpayer identification number but who do not have, and are not eligible to obtain, a Social Security Number.

ITINs are issued regardless of immigration status because both resident and nonresident aliens may have Federal tax return and payment responsibilities under the Internal Revenue Code. Individuals must have a filing requirement and file a valid federal income tax return to receive an ITIN, unless they meet an exception.

In 2006 1.4 million people used ITIN when filing taxes. Federal tax law prohibits the IRS from sharing data with other government agencies including the INS, ensuring illegal immigrants that the tax information will be confidential and not be used to deport them.


Synonyms For Individual Taxpayer Identification Number


ITIN

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Definition Sources


Definitions for Individual Taxpayer Identification Number are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 24th April, 2020 | 0 Views.