If you monetize your YouTube channel you may have recently Googled:
What is Youtube TIN? How to get the TIN?
Or even if you are a content producer on Facebook, you must have researched something about:
How to get the required TIN on Facebook?
The first thing that is important to understand is that the acronym for TIN is ITIN and both Facebook and Youtube can demand identification to pay content producers.
According to Google’s own information on its support pages, the tax identification number (TIN) is a tax processing number required by the Iternal Revenue Service or IRS (US tax authority) for all tax forms in the country.
People who do not have US citizenship may need an Individual TIN (ITIN) in order to claim some tax benefit or even to build a credit history, open a checking account and/or a business. American.
On Facebook or Meta to receive payments from Audience Network, you will need to set up your payment information. Only finance administrators who are also property managers in Monetization Manager can add or update payment information.
The app will only be able to receive Audience Network ads after the payment information is added, but before you get started it’s important that you:
Obtain a tax identification number for yourself or your business, depending on who will receive payments.
Make sure your bank account can accept payments in USD.
These requirements are part of a new platform monetization policy.
In summary, and in a simplistic way, both Google and Meta are North American companies that need to be accountable to the US tax authorities, so they can require the ITIN in the process of monetizing the accounts.
But what is the ITIN Number?
In one of our first blogs we explained about this, you can have more details by clicking on the title below:
What is the so famous “ITIN Number” and what is it used for?
But to summarize, the ITIN (Individual Taxpayer Identification) is a document issued to anyone who needs to receive a salary, or any other form of payment that requires the need for declarations to the inspection bodies of the Federal Revenue Service. You do not need to be a citizen, permanent resident or hold any visa to open an ITIN, just have a valid passport.
Did we answer your questions? Now if you want to know the step by step to obtain your ITIN, we can also help you, we have prepared a free e-book for this, just click here, or if you prefer, call our team on Whatsapp.
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