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ITIN Application Guide: When and How to Apply for Your Individual Taxpayer Identification Number

If you own a U.S.-based business, earn U.S. source income, or receive rental income, you may need an Individual Taxpayer Identification Number (ITIN) for tax filing, obtaining refunds, and opening a U.S. bank account.

In the U.S., there are two main identification numbers for individuals. The first is the Social Security Number (SSN), available only to U.S. citizens, Green Card holders, or visa holders with temporary U.S. residency. The second is the Individual Taxpayer Identification Number (ITIN). Instead of detailing who can get an ITIN, it’s simpler to state that anyone who cannot obtain an SSN will need an ITIN for tax purposes. Here’s a breakdown of those who can apply for an ITIN:

•Foreign individuals who cannot get a Social Security Number but have U.S. tax obligations.

•Individuals residing outside the U.S. who need a tax ID number for tax returns.

•Those who have come to the U.S. for residency and require a tax ID for filing returns.

•Spouses and dependents of U.S. citizens and foreign residents in the U.S. who aren’t eligible for an SSN but must file taxes.

•Spouses and dependents of non-U.S. residents who need to file U.S. taxes.

Knowing the best time to apply for an ITIN is crucial. Since an ITIN is a tax identification number issued by the IRS, it’s vital for filing tax returns. You should apply for an ITIN as early as possible, especially if you have tax filing obligations. Failure to comply with tax filing requirements can lead to significant penalties.

Social Enterprises LLC offers assistance in filing your ITIN application documents through a Certified Acceptance Agent. With our service, you don’t need to send original documents or undergo ID verification.

 

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