Tax Identification Number (TIN)

A Tax Identification Number (TIN) is a unique number assigned to individuals and businesses for tax purposes. It helps the government identify and track taxpayers' financial activities, ensuring proper recording and reporting of income and taxes owed. TINs are used on tax returns, documents, and transactions to streamline the collection and management of tax information. Different countries have their own TIN systems, such as the Social Security Number (SSN) in the U.S. for individuals or Employer Identification Number (EIN) for businesses. Overall, a TIN simplifies the process of managing tax obligations efficiently.