Individual Taxpayer Identification Number (ITIN)

Categories: Taxes

IN THIS VIDEO YOU WILL BE ABLE TO DETERMINE IF YOU NEED AN INDIVIDUAL TAXPAYER IDENTIFICATION NUMBER, OR ITIN.

AN ITIN IS ISSUED BY THE INTERNAL REVENUE SERVICE AND IS USED FOR TAX PURPOSES ONLY.  THE IRS ISSUES ITINS TO INDIVIDUALS WHO ARE NOT ELIGIBLE TO OBTAIN A SOCIAL SECURITY NUMBER, OR SSN.

TO QUALIFY FOR AN ITIN, YOU MUST HAVE A TAX FILING AND REPORTING REQUIREMENT AND FILE A U.S. INCOME TAX RETURN ALONG WITH THE ITIN APPLICATION.

HOWEVER, THERE ARE EXCEPTIONS: A LIST OF EXCEPTIONS CAN BE FOUND IN THE INSTRUCTIONS FOR FORM W-7.

ITINS ARE ISSUED REGARDLESS OF IMMIGRATION STATUS SINCE BOTH RESIDENTAND NONRESIDENT ALIENS MAY HAVE A U.S. FILING OR REPORTING REQUIREMENT UNDER THE INTERNAL REVENUE CODE.

TO DETERMINE IF YOU NEED AN ITIN, ASK YOURSELF, “DO I HAVE OR AM I ELIGIBLE TO OBTAIN A SOCIAL SECURITY NUMBER OR SSN?”

IF YOU DON’T KNOW OR IF YOU ARE NOT SURE YOU HAVE AN SSN, CONTACT THE SOCIAL SECURITY ADMINISTRATION, OR SSA, FOR CONFIRMATION.

JUST GO TO SSA.GOV/AGENCY/CONTACT

Source: IRS