An ITIN is a
nine digit tax processing number that is issued to the people of the United
States by the (IRS) Internal Revenue Service to ensure that they pay all the federal
taxes even if they do not have a Social Security number or (SSN) and regardless
of unauthorized immigrants. It is a fact sheet created in July, 1996 so that
all the foreign nationals and non residents can execute all their financial
transactions, including opening interest bearing bank accounts, collecting
loans, securing a driver’s license or prove the fact that an individual has
been residing in the US for a couple of years. However, if any person becomes eligible
for the SSN in the future, then income
earned with an ITIN, is counted by the amount he or she is eligible to receive.
With a group
certified tax professionals across the nation, the offices offering the ITIN
services are equipped enough to guide
the individuals for ITIN applications and renewal programs. In order to get an
ITIN one has to fill up the form W7 and attach it with the tax return. ITIN
application forms should be filled up carefully so that the individual does not
face the risk of the application form getting rejected. For this they should take
some help from the agent experts or the tax professionals to know how to apply for an ITIN.
The instructions given in the form W7 list
documents that are used as an identity proof for gaining foreign status.
The form W7 asks for the following information from the applicants of the ITIN:
- The reason they are applying for an ITIN
- The applicant’s name, date and year of birth, mailing
address, and also if they posses a different foreign address.
- The applicant’s location of birth
- The country of which the applicant is a citizen.
If the individual had been a citizen of more than one country, then he or
she should mention the names in the application form with a slash. A
maximum of names of two countries can be enlisted in the form.
- The foreign tax ID number of the applicant, if
the concerned individual possesses one.
- The applicant’s passport, US visa number, if
required.
Additionally,
the individuals applying for an ITIN must submit two of the following documents
mentioned below:
- Foreign driving license
- Voter registration card
- Foreign military registration card
- Medical and school records of dependants or
students under 25 years of age.
- Civil birth certificate
The (CAA) Certified
Acceptance Agent services, submits the copies of all the documents along with
the form to the IRS on behalf of the applicants so they do not need to provide
the original documents.
No comments:
Post a Comment