A 9-digit number used to identify an entity (company or person) for tax reporting purposes in the U.S. There are several different types of tax identification numbers, such as employer identification number (EIN), Social Security number (SSN), individual taxpayer identification number (ITIN), and adopted taxpayer identification number (ATIN).
ITIN is a tax number issued by the Internal Revenue Service (IRS) processor. It is a nine-digit number, which always starts with 9 and has 7, 8 or 9 as the fourth digit.
The IRS issues ITNs to individuals who need an ID number for tax purposes in the United States, but are not eligible to obtain a SSN from the SSA.
ITIN is issued regardless of immigration status because both residents and foreigners may have obligations to file tax declarations and tax payments under the IRS tax code.
To obtain an ITIN number, individuals must meet the requirement and file a federal income tax return. You can also include them in your return if your dependents are in their country of origin.
Remember it is very important to be current with your tax filings; this has many benefits such as, for example:
- It serves as proof of income.
- It serves as proof of address.
- It gives you a record that will later serve you on matters related to health, loans and immigration, to name a few.
Also, if you have relatives in India, you can also obtain an ITIN for them, and obtain the deductions that correspond to you when you do your taxes.
ITIN is issued regardless of immigration status because according to the tax code of the IRS both citizens and foreigners can be liable for taxation and taxation.
To obtain an ITIN, individuals must meet the requirement and submit a valid federal tax return.
How to reactivate an expired ITIN?
To reactivate an outdated ITIN, you must send a Form W-7 (SP) to the IRS, requesting the Personal Identification Number of the Inland Revenue Service Taxpayer, duly completed and sent with all required identification documents. You do not need to combine tax returns to reactivate.
Until the ITIN is reactivated, the income filed with the expired ITIN will be processed as filed on time, but will be processed without any exceptions and / or credits imposed by you, and no refund will be available at that time. Taxpayers will receive a notice explaining the delay in withdrawing any money from the IRS, and they will be notified that the ITIN must be reactivated. Once you reactivate the ITIN, any exemptions or credits will be processed and you will be paid any money you are entitled to.
For corporations Employer Identification Number: If you are a corporation and do not have an EIN, please complete the EIN acquisition application Form SS-4 (Application for Employer Identification Number) with the Internal Revenue Service (IRS). To obtain an EIN, it usually takes 2 to 3 weeks to apply for EIN by mail from India. You can also contact the IRS directly by phone or fax to get an EIN on the same day.