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A Guide to ITIN – Individual Tax Identification Number

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FTAX Blog Pic A Guide to ITIN   Individual Tax Identification NumberLast year, the IRs changed procedures related to the ITIN or Individual Tax Identification Number. If you want to request an ITIN, you should note down these changes as a reference. Here is what you should know about the ITIN or Individual Tax Identification Number.

What is the ITIN or Individual Tax Identification Number?

ITIN or Individual Tax Identification Number is a sort of a code which is used for processing taxes by the internal Revenue Service or IRS. The number comprises of 9 digits, of which the first digit is always a 9. For the fourth and fifth digits, the range is of 70-88. The range was modified in the year 2011 and was expanded to include numbers till 999-99-9999. The ITIN is issued to only those individuals that must have a tax id, but cannot have a Social Security Number or SSN. No matter what the immigration status of these individuals is, they can still be given an ITIN. This is because a person may not be a resident or a citizen of the United States, but they will still have to pay taxes as per the IRS policies.

If you want to receive an ITIN or Individual Tax Identification Number, you will need to submit an application along with copies of your income tax return.

What is the ITIN or Individual Tax Identification Number used for?

The only purpose of ITIN is to report the taxes. The number is provided to individuals so that they can abide by the laws of the country and pay required taxes through a smooth and efficient process.  The same number is used to identify their tax payments and refunds.

Who requires an ITIN or Individual Tax Identification Number?

Generally, the ITIN is only required for foreign citizens and other individuals who do fulfill tax requirement, but can apply for a Social Security Number.  Even if the individual is non-resident, the number will still be needed so that a tax return can be filed and a refund can be claimed.

How to figure out if you need an ITIN or Individual Tax Identification Number?

Generally, an ITIN or Individual Tax Identification Number is a requirement for only those people who cannot have a social security number. You will be issued the number only when you apply as per the required application process.

If you have already applied for SSN, but the process is still not complete, then do not file your tax return through the W-7 form. Use this form only when you receive an official notice that you cannot be issued an SSN.

An SSN can be obtained through the S-5 form. The website of the Social Security Administration can provide you more information in this regard.

How do you apply for ITIN?

Fill out a W-7 form; make sure it is the latest version.  Attach your tax return with it along with your id cards and other required documents. Send these to the address given on the IRs website.

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Robert AcevedoA Guide to ITIN – Individual Tax Identification Number

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