Social Security Numbers for Children
While your infant may not be filling out a W-9 form anytime soon (there's that whole child labor law thing), you need to get your baby a social security number. You may have taken care of this at the hospital, while in an I-just-gave-birth-ten-minutes-ago haze. If you didn't, here's what you need to do:
1. Contact the Social Security Administration for details on how to apply.
2. Why? Because you can claim a new dependent on your income tax form. And you may now be eligible for a child tax credit and possibly a childcare credit. Cha-ching!
3. You also might want to open a bank account or a 529 plan for your child. (Can you imagine what college will cost 18 years from now?)
4. Finally, educate yourself about identity theft. Sure, baby isn't applying for any credit cards any time soon, but it's never to early to be sure you're doing all you can to protect your little one's new social security number. The Federal Trade Commission and the U.S. Department of Justice have consumer information to help you protect yourself.
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