An ITIN (Individual Taxpayer Identification Number) is a tax identification number provided by the Internal Revenue Service. Individuals who are obliged to have a U.S. taxpayer identification number but do not have, and are not eligible to get, a Social Security number (SSN) from the Social Security Administration are issued ITINs by the IRS (SSA).
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ITINs are issued by the IRS to assist people in complying with U.S. tax regulations, as well as to offer a mechanism for those who are not qualified for Social Security numbers to quickly process and account for tax returns and payments. They are issued regardless of immigration status since both resident and nonresident aliens may be required by the Internal Revenue Code to file or report in the United States.
To get an ITIN, first you need to prove you are eligible. Residents and non-resident aliens in the United States, as well as their dependents or spouses, can apply for an ITIN number. . Contact us and get in touch with our experts if you need help in preparing your ITIN applicaiotn.
The primary distinction between an SSN and an ITIN is that the former is granted to US citizens and approved non-citizens, whilst the latter is issued to residents with foreign status or illegal immigrants. The latter cannot be awarded an SSN, but if they are permitted to remain in the United States, they must pay taxes. So, in certain ways, ITIN serves as a replacement for SSN if you are not permitted to have one. For tax reasons, ITIN can be used in place of SSN.<br><br>
SSNs are issued to citizens as well as certain non-citizen residents. Undocumented aliens and nonresident aliens who work or conduct business in the United States are granted ITINs. In some circumstances, such as those involving a partnership, trust, or real estate, foreign entities might be granted an ITIN in order to pay their taxes.