An Individual Taxpayer Identification Number is a tax processing number issued by the IRS. The financial ratios definition categories key solvency ratios purpose of an ITIN is to ensure those who work in the U.S. have a method of paying taxes, even if they don’t qualify for a Social Security number (SSN) from the Social Security Administration. With TurboTax Live Full Service, a local expert matched to your unique situation will do your taxes for you start to finish. Or, get unlimited help and advice from tax experts while you do your taxes with TurboTax Live Assisted.
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Unless you will not need to file an income tax return next year, you will likely need to renew your ITIN if you fit either of the above two categories. Internal Revenue Service (IRS) to individuals who are required for U.S. federal tax purposes to have a U.S. taxpayer identification number but who do not have and are not eligible to get a Social Security number (SSN). If you are not a U.S. citizen and do not have a Social Security number, learn how to get and use an Individual Taxpayer Identification Number (ITIN) to file a federal tax return. Anyone who needs to file a U.S. tax return can get an ITIN, regardless of their U.S. immigration status. Applicants who meet one of the exceptions to the requirement to file a tax return (see the Instructions for Form W-7) must provide documentation to support the exception.
Who Needs an ITIN or Individual Tax Identification Number?
The Individual Tax Identification Number, or ITIN, allows taxpayers who don’t have a Social Security Number (SSN) to file income tax returns. Unlike other forms of ID, ITINs only have one purpose—tax filing and reporting. Having an ITIN number won’t make you eligible for benefits, such as Social Security or earned income credits that provide refunds to some low-income filers. If questions 11 through 17 on Form SS-4 do not apply to the applicant because he has no U.S. tax return filing requirement, such questions should be annotated „N/A“.
What form do I use to apply for an ITIN?
If you do not want to apply for a PTIN online, use Form W-12, IRS Paid Preparer Tax Identification Number Application. You will need to complete Form SS-5, Application for a Social Security Card PDF. You also must submit evidence of your identity, age, and U.S. citizenship or lawful alien status. For more information please see the Social Security Administration website.
Simple Form 1040 returns only (no schedules except for Earned Income Tax Credit, Child Tax Credit and defining take-home pay student loan interest). Acceptance Agents are entities (colleges, financial institutions, accounting firms, etc.) who are authorized by the IRS to assist applicants in obtaining ITINs. They review the applicant’s documentation and forward the completed Form W-7 to IRS for processing. The IRS clarifies that you need either an ITIN or an SSN to get the Child Tax Credit. Of course, you’ll only receive that credit if meet the other reporting requirements for it. Once you apply for an ITIN, you can expect to hear from the IRS about the status of your application within seven weeks.
These might include a passport number or other government-issued ID number. You will only file a tax return to the address above once, 8 key construction accounting best practices for contractors when you file Form W-7 to get an ITIN. In subsequent years, when you have an ITIN, you will file your tax return as directed in the form instructions.
- Unlike other forms of ID, ITINs only have one purpose—tax filing and reporting.
- To prevent delays, make sure you’ve provided the correct information and sent all the required supporting documentation.
- Anyone who needs to file a U.S. tax return can get an ITIN, regardless of their U.S. immigration status.
- For a summary of those rules, please see the new Form W-7 and its instructions.
At a minimum, you should complete Form W-7 when you are ready to file your federal income tax return by the return’s prescribed due date. If the tax return you attach to Form W-7 is filed after the return’s due date, you may owe interest and/or penalties. All Form W-7 applications, including renewals, must include a U.S. federal tax return unless you meet an exception to the filing requirement.
If you need to renew your ITIN, you’ll follow the same process as applying for a new ITIN. However, if you mail in your renewal application, you can simply send along a form W-7 with supporting documents—no need to attach a tax return. ITINs that have not been used on a tax return for Tax Year 2021, Tax Year 2022 or Tax Year 2023 will expire December 31, 2024.
