TIN vs SSN
What is the difference between SSN and TIN?
TIN1. What is a TIN? This is a 9 digit number that is commonly used by taxpayers who do not have a Social Security Number or can not get one due to ineligibility. The overwhelming majority of TIN users are non US citizens. One of the drawbacks of a TIN is that it almost certainly, subjects the taxpayer to US taxation for worldwide income. Getting a TIN may be useful for many looking to improve their immigration status, but, may be better if it can be avoided by others, who do not plan to live, work and/or owns assets in the U.S., as well as, by many who do not want to have their foreign subject to US taxation. This result can often be achieved by having businesses or assets that a non US citizen would like to own and/or operate put into a U.S. Corporation that uses a U.S. strawman, who then diverts income and ownership to its foreign subsidiaries (usually the non U.S. citizen's home country). The process of ITIN started in the 1990s and it has facilitated a process, by which the federal government is ammassing billions in its social security trust, which won't pay retirement benefits to many taxpayers with TINs.
SSNWhat is a SSN? It stands for Social Security Number, which is a 9 digit number. It was originally designed to keep track of certain retirement benefits, but now its use, is mostly for federal tax compliance enforcement, and facilitating certain identification procedures.