Individual Taxpayer Identification Number or ITIN is provided to individuals who do not qualify for a Social Security Number or SNN. By obtaining an Individual Taxpayer Identification Number, they will be able to pay taxes like every citizen of the United States.
However, they will not be eligible to receive the same benefits as people with a SSN. This does not deprive them of every benefit though, as they obtain different benefits that one day could see them as becoming citizens of the United States. When they obtain an Individual Taxpayer Identification Number, they will receive the following benefits:
- It informs the government of the United States that they are obeying all the federal tax laws.
- It shows that they are contributing to the economy by filing for federal taxes.
- It brings them one-step closer to becoming United States citizens, as it legalizes their immigrant status in the country. It also serves as an opportunity for them to exhibit good traits of a responsible future United States citizen.
- It enables them to use tax returns to document their employment history and presence in the United States. The Individual Taxpayer Identification Number will assist them prove to the proper authorities that they have resided and worked in the United States for a specified period of time. Only then, they will be eligible to be promoted to citizen status.
- By apply for the Individual Taxpayer Identification Number, they will be able to file tax returns, allowing them to claim Child Tax Credit and other important economic tax claims.
- Having an Individual Taxpayer Identification Number is pertinent for illegal immigrants who have children born in the United States. Without the Individual Taxpayer Identification Number, their children will not qualify for health care coverage mentioned in the Affordable Care Act or ACA. If you fail to apply for an ITIN, you will not be eligible to apply for health care insurance and will not be able to purchase at full price either.
- Immigrants who receive payments from an employer due to a dispute will not have to pay the highest tax withholding rate. Those without an Individual Taxpayer Identification Number will have to pay the highest tax withholding rate. When an immigrant worker has an ITIN, the tax withholding tax rate will be calculated based on their family status, which would be used to determine the amount of exemptions he/she can claim.
Illegal immigrants residing in the United States should consider filing for an Individual Taxpayer Identification Number, as it would open a doorway for them to one day apply for citizenship of the United States. They can contact a reputable firm that deals with helping illegal immigrants legalize their status in the United States by assisting them obtain an ITIN.
Once they become eligible to apply for a green card to become citizens, they can apply for a Social Security Number to obtain benefits associated with it.
If you want to apply for an, Individual Taxpayer Identification Number, or ITIN tax number and have any other questions, please feel free to contact us at 888-509-3616. If you have any suggestions please share those with us as well. Freedomtax ITIN Number has a professional team of IRS Certifying Acceptance Agents, and tax accounting professionals with more than 16 years of experience, helping immigrants with their ITIN application. Freedomtax can also help immigrant entrepreneurs incorporate a business in the USA. Freedomtax ITIN Tax Number Online services provides Quality, Professional Service with a Family Feel.