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Truncated Taxpayer ID Numbers to Help Fight Fraud

Saul Brenner, CPA, J.D., LL.M. 09.29.2014 | eVisor

Built on a 2013 IRS pilot program, truncated taxpayer identification numbers (TTINs) can now be used on payee statements and certain other documents according to new regulations. 1

TTINs X-out the first 5 digits of your Social Security number, individual taxpayer identification number, adoption taxpayer identification number, and under the new regulations, your employer identification number.

TTINs can now be used on both electronic and paper payee statements.  The use of TTINs would apply for the Form 1099, 1098, and 5498 series, but not 1098-C, Contributions of Motor Vehicles, Boats, and Airplanes.

Specifically, you can truncate numbers on payee statements. However, you cannot truncate on forms filed with the IRS, such as Form 3520, Annual Return ToReport Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts and Form 3520-A Annual Information Return of Foreign Trust With a U.S. Owner as well as Form W-2, Wage and Tax Statement.

Previously TTINs could only be used with the authorization of the IRS.  

1 T.D. 9675

Questions? Contact your Berdon advisor or Saul Brenner at 212.331.7630 or sbrenner@berdonllp.com.

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