BizTerm Definition
ITIN
Short Definition
Individual Taxpayer Identification Number
Full Definition

Individual Taxpayer Identification Number or ITIN refers to the identification number assigned by the IRS to an individual who otherwise would not qualify for a SSN but is still needs such a number. For instance, a principal officer of an entity applying for an Employer Identification Number, must have either an ITIN or SSN. An ITIN can be obtained by filing an IRS Form W7 and waiting approximately 6 weeks.

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