taxes

What is a Taxpayer Identification Number?

 

What is a Taxpayer Identification Number?

The Bankrate.com financial term of the day is: "Taxpayer Identification Number."

Your first and last name won't be enough for tax purposes; the Internal Revenue Service also will want your Taxpayer Identification Number. But don't worry -- it's not one more number that you'll have to remember, or file away someplace safe inside your smartphone. For individuals, the taxpayer ID number is the same as your Social Security number; businesses use their employer identification number.

The IRS knows you by your Taxpayer Identification Number, which may sound complicated, but it's the same as another number you should know pretty well.

For answers to all of your tax questions, visit the Taxes section at Bankrate.com.

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