US 22 | US Tax Identifiers
Manage episode 326044288 series 3321676
No tax administration system works without tax identifiers. The ATO uses ACNs, TFNs and ABNs. The US uses SSNs, ITINs and EINs.
Social security numbers (SSN) are used for tax purposes but also for social security. A social security number in the US is like an individual TFN plus a Centrelink’s CRN in Australia. SSNs are not relevant for us in Australia since most of us won’t be able to apply for an SSN. So we skip SSNs and instead focus on EINs and ITINs.
ITIN stands for Individual Taxpayer Identification Numbers. And you can apply for an ITIN if you need one. Anybody who needs one can get one. You just have to send your passport by courier to an IRS agent in Australia, pay a fee, do a Zoom interview and you have an ITIN.
EIN stands for Employer Identification Number. Without an SSN you can only apply by fax, phone or mail.
The speaker in this episode is Alex Oware of O & G Accounting in Lakewood, Colorado. Alex will cover EINs and ITINs, and also W-9, W-8BEN and W-8BEN-E. And at the end Alex will also touch on branch profit tax.
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