Form W-7 ITIN Application Service
We are authorized by the Internal Revenue Service (“IRS”) to help US residents and US non-residents (including their spouses and dependents) to apply for an individual taxpayer identification number (“ITIN”).
An ITIN number is a federal tax ID number used by the IRS and the Department of the Treasury to correctly and efficiently identify its taxpayers and to process U.S. tax returns
Understanding Your ITIN Tax ID Number
In 1996 the U.S. Department of the Treasury issued regulations to create the Tax ID Number aka Individual Taxpayer Identification Number (ITIN) system for foreigners to use as a unique identification number on their Federal tax returns. The ITIN is a nine-digit number issued by the internal revenue service to individuals who do not have and are not eligible to obtain a Social Security number (SSN), but who must have a (ITIN Tax ID Number ),taxpayer identification number, because they may have income to declare. Taxpayers can also include their dependents and spouses on their returns and request an ITIN for them.
What is an ( ITIN Tax ID Number )Individual Taxpayer Identification Number?
– It is a number issued by the Internal Revenue Service to facilitate tax processing. The ITIN Tax ID Number is a nine-digit number that always begins with the number 9 and has a range between 70 and 88 in the fourth and fifth digit, example
It is a number issued to individuals who are required to have a US taxpayer identification number but who is not eligible to obtain a Social Security Number (SSN) from Social Security Administration (SSA). ITIN Tax ID Number is issued regardless of immigration status because both resident and nonresident aliens may have a U.S. filing or reporting requirement under the Internal Revenue Code. Individuals must have a filing requirement and file a valid federal income tax return to receive an ITIN Tax ID Number, unless they meet an exception.
Who needs an ITIN Tax ID Number number?
An individual needs an ITIN number if he/she does NOT have a Social Security Number AND has any of the following circumstances:
• Have income that is reported to the IRS
• You are claimed as a dependent on someone’s Federal Income Tax Return
• If you want to open a bank account/stock account
• If you want to obtain a Driving Licence from Department of Motor Vehicles
• If you have rental properties in the US
Advantages of getting an ITIN Tax ID Number
• You can qualify for a refund for money that has been taken out of your paycheck for income taxes. This depends on your income, the amount that was withheld from your paycheck and the number of dependents you are claiming.
• Filing your taxes can help you apply for residency in the future. The IRS wants individuals to file their taxes, regardless of their immigration status, so they do not share information about people who have an ITIN Tax ID Number with the Bureau of Citizenship and Immigration Services.
• Some financial institutions accept the ITIN Tax ID Number to open bank accounts that pay interest and to apply for loans. Many people use an ITIN to establish their credit history and apply for loans to buy a car or house.
• Even if you didn’t file your taxes in the past, you may qualify for a refund for three previous years once you receive your ITIN Tax ID Number. Call us for more details on this.
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