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Taxes article : Individual Taxpayer Identification Number (ITIN)
 

Finance > Taxes > Individual Taxpayer Identification Number (ITIN)

0 Reviews [ add review ], Article rating : 0.00, 0 votes. Author : Arik Rozen

What is an ITIN?

Individual Taxpayer Identification Number (ITIN) is a tax processing number issued by the Internal Revenue Service. Individuals who are required to have a U.S. taxpayer identification number but who do not have, and are not eligible to obtain a Social Security Number (SSN) from the Social Security Administration (SSA), may apply and obtain ITIN issued by the IRS.

ITINs are issued regardless of immigration status because both resident and nonresident aliens may have U.S. tax return and payment responsibilities under the Internal Revenue Code. To be eligible for ITIN, Individuals must have a filing requirement and file a valid federal income tax return

What is the format of ITIN?

It is a nine-digit number that always begins with the number 9 and has a 7 or 8 in the fourth digit, example 9XX-7X-XXXX.

What is an ITIN used for?

ITINs are for tax reporting only, and are not intended to serve any other purpose. ITIN does not authorize work in the U.S. or provide eligibility for Social Security benefits or the Earned Income Tax Credit

Who needs an ITIN?

IRS issues ITINs to non-US-residents (foreign nationals) and others who have federal tax reporting or filing requirements and do not qualify for SSNs. These cases may include the following scenarios:

• Non-resident alien filing a U.S. tax return and not eligible for an SSN

• Non-resident alien member of a U.S. LLC (Limited Liability Company)

• U.S. resident alien (based on days present in the United States) filing a U.S. tax return and not eligible for an SSN

• Dependent or spouse of a U.S. citizen/resident alien

• Dependent or spouse of a non-resident alien visa holder

Tax ID Number - How To Apply?

1. Print the form at the following link (one for each family member for which you are asking tax ID number): http://www.irs.gov/pub/irs-pdf/fw7.pdf

If you are requesting a tax ID number for a child - check box "d" in the reason for submitting the form. If you are requesting a tax ID number for a spouse - check box "e" in the reason for submitting the form. In both cases enter your name and social security in the right side of this section.

Fill out all the personal information, date and sign the form.

2. Make a copy of your passport and the applicant's passport (spouse or child) (copy the first page, any extension page and the visa page) notarized it by a PUBLIC NOTARY (go to any bank - they should have one).

Attach the filled out form and the notarized copy of the passport TO YOUR TAX RETURN and mail it via certified mail to:

INTERNAL REVENUE SERVICE PHILADELPHIA SERVICE CENTER ITIN UNIT PO BOX 447 BENSALEM, PA 19020

3. The IRS will process your form within 6-8 weeks, and will send you a notice with the new numbers.

Tax USA Inc.
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Tax USA, Inc. is a complete tax, accounting and financial management firm specializes in small businesses, corporations and high income individuals. Tax USA Inc.'s mission is to exceed clients' expectation by providing superb tax, accounting & financial Management services. We offer our clients tax, accounting and bookkeeping services, CFO Outsourcing, Budget Review and Business Plans, Cash Flow Management, Payroll Services and Entities' Incorporation.

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0 Reviews [ add review ], Article rating : 0.00, 0 votes. Author : Arik Rozen
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