What’s the Difference between SSN and EIN Number?
Difference between SSN, ITIN and EIN.
Social security number (SSN) is given to a person over the age of 18. You can get it from the social security office in the U.S.A. This is one of the things that will help you get some benefits in the country. It is a card that bears a citizen’s reference number. This unique reference number is assigned to each person within the social security system. The number remains the same throughout the person’s lifetime.
If anyone plans to immigrate from his country to the U.S., he must apply for the social security number. Note that social security number can be used for multiple purposes such as:
– Tax payments
– Claiming of the social security benefits
– Identifications and so on
While SSN is given to individuals for identification, EIN is issued to companies for identification. It is also used by both corporate entities and individuals to pay the taxes. However, this is more like a business identification number. It is also issued to states, corporations, government agencies, limited liability companies(LLC, LTD) and so on. This identification number is also known as Federal Employer Identification Number (FEIN) and is a unique nine-digit number assigned to business entities operating in U.S by Internal Revenue Service. This enables the company or organisation to be able to operate freely in U.S.A. Note also that IRS uses the EIN to identify taxpayers who need to file diverse business tax returns.
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