Do you need an Individual Taxpayer Identification Number (ITIN)?
I want to pay my taxes
Millions of people now inhabit the United States. They come from varied and diverse backgrounds, and many people living here have been born in other countries and come here for a better life. We need to put politics aside and consider the real circumstances people find themselves in throughout our country. Many people are residing here but are not citizens of the United States. Whether they are undocumented or documented, working in the U.S. has specific stipulations. One of those is taxes. If you work here, you are responsible for paying taxes. For those without or those ineligible to receive a Social Security Number, the alternative is an Individual Taxpayer Identification Number or ITIN.
Assessing the Acronym
Tax law in the U.S. is complex but boils down to the fact that if you are working in the U.S., you need to pay the piper. This IRS is one of the largest bureaucracies in the United States, and if you owe money through working for a business that legally files, they will find you. The ITIN provides a route for people to pay their taxes outside of what would be considered the standard method, especially that of the Social Security Administration, who is responsible for payroll taxes. This number allows Nonresident aliens who are required to file tax returns, those claiming a tax benefit, and those requesting a tax exemption to do so. Dependent spouses who are required to adhere to U.S. tax law should get one as well.
Getting in the Game
Many people ask if they need an ITIN. The short answer is that if you are asking this question or researching this topic, the answer is very likely yes. If you do not have a Social Security Number and cannot legally get one, but are working and required to file taxes, you need one. Once you assess that you do need one, there are a few ways to go about it. The only remote way is to mail all pertinent documents to the IRS directly. Our Certifying Acceptance Agent can aid you in the process.
Let the Good Times Roll
You can apply for an ITIN at any point during the year when you are required to report your income or required to file. Once you receive your ITIN, you are good to go. However, there is one more important thing to remember. ITINs are not indefinite. If you haven’t filed with your ITIN from 2017-2019, it will automatically expire on December 31st, 2020. You can access the IRS website for further information, but you can find your assignment date on your Assignment notice or call in to get it. If your ITIN is set to expire, you can renew it by sending in a completed W-7, an application for the ITIN, and valid supporting documentation required. Always remember to stay in compliance to avoid issues.
by Nick Climan – Content Creator at Half Full Marketing
Need help with your personal or business taxes?
If you need assistance obtaining an ITIN to file your taxes in the U.S., contact our Certifying Acceptance Agent here at Alron Taxes, Inc., a wholly owned subsidiary of Alron Enterprises, Inc. Alron Taxes, Inc. specializes in providing taxpayers the highest quality, expert assistance with tax preparation services. Our Certifying Acceptance Agent can help obtain your ITIN to get you started. Give us a call at 321-951-7626, email us at email@example.com, fax us at #321-723-8218 or contact us here. We look forward to working with you!
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