Social Security Number Flashcards, test questions and answers

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What is Social Security Number?

Social Security numbers are unique nine-digit identification numbers issued by the United States government to individuals, largely for taxation and Social Security purposes. They are used to verify one’s identity when filing taxes or applying for credit cards, bank accounts, loans, and other financial services. They also serve as a tool for tracking income over time throughout an individual’s lifetime.The Social Security number program was established in 1935 under President Franklin D. Roosevelt as part of the New Deal reforms aimed at creating economic security for American citizens during the Great Depression. It was initially intended to provide a reliable source of revenue from payroll taxes that would be used to fund retirement benefits and disability insurance. Today it is widely used across all branches of the federal government for various tracking purposes such as verifying eligibility for public assistance programs like Medicare and food stamps. Most states also use SSNs to issue driver’s licenses and track unemployment insurance claims.From its inception until 2011, Social Security numbers were printed on paper documents such as driver’s licenses and W-2 forms which made them vulnerable to theft or misuse by criminals seeking access personal information or commit fraud against people with those documents containing their social security number.. In 2011, the US government changed its policy so that these documents no longer contain visible Social Security numbers due to growing concerns about identity theft and data breaches related to SSN misuse. Although Social Security Numbers remain a primary form of identification within the United States, many organizations have taken steps towards reducing reliance on SSNs by implementing alternative methods such as biometrics (fingerprint scanning) or two factor authentication (combining something you know with something you possess). These measures help protect consumers from online threats while still allowing businesses access necessary information without having access to someone’s full Social Security Number which could be used maliciously if obtained by criminals.