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Social Security number may be removed from your W-2

Recognizing the ever increasing risk of identity theft, and how use of the Social Security number (SSN) as a means of identifying tax payers contributes to that risk, the Internal Revenue Service has proposed a change which would allow employers to truncate employees’ SSN on W-2 forms.  This form, which is used to report wages and tax withholding to the IRS, would instead carry only the last four digits of the SSN, transforming it into a “TTIN”, a truncated taxpayer identification number.  This AccountingWeb article by Terry Sheridan explains the proposed change.  Click here to read more.

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