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Glossary of terms

Glossary of terms

It’s vital to know the terms and words of any topic to achieve true understanding.

It’s our desire that you have no doubts when deciding, which is why we have decided to build this glossary.

What does EIN mean?

EIN stands for Employer Identification Number. It would be your company’s tax registration number to the Internal Revenue Service (IRS). 

It would be the US version of the VAT number.

What does FEIN mean?

FEIN stands for Federal Employer Identification Number. It would be your company’s tax registration number to the Internal Revenue Service (IRS). It’s exactly the same number as the EIN, but with a different way of calling it.

 
 

What does TAX ID mean?

TAX ID is an acronym used to refer to a tax identifier, in turn it could be of the company, of the person or it could be used as a substitute for the EIN or the TIN.

This acronym is not officially used.

What does TIN mean?

TIN is an acronym that means Taxpayer Identification Number. It would be your company’s or personal tax registration number to the Internal Revenue Service (IRS).

 

What does SSN mean?

SSN stands for Social Security Number. It’s the social registration number that citizens and persons legally residing in the United States have, which allows you to work or study in the United States.

For practical purposes, the person’s SSN is their TIN.

What does ITIN mean?

ITIN stands for Individual Taxpayer Identification Number. It’s the personal tax code when for some reason you don’t have an SSN.

 

What does IRS mean?

IRS stands for Internal Revenue Service, it’s the government agency responsible for federal or national taxes.

 
 

What does LLC mean?

LLC stands for limited liability company. On this link you can see exactly what it is.

 

What does Corp mean?

Corp is short for “corporation”, it is simply the identification of a legal entity. On this link you can see exactly what it is.

 

What does Inc mean?

Inc is the abbreviation for the word “Incorporated” and means that the company was incorporated as a corporation. On this link you can know the details.

 

What does Co mean?

“Co” is short for the word “Corporation”. On this link you can know the details.