What Is An Individual Taxpayer Identification Number (ITIN)?

Author: Bose Tax & Accounting LLC | | Categories: Tax Preparation Services , Tax Professionals , Tax Services

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For the effective assessment of taxes, each individual eligible to pay taxes in the US is allotted a taxpayer identification number (TIN). Usually, your Social Security Number (SSN) is the TIN that you need to provide on all of your tax-related documents like returns, statements, claims, etc. However, if you are not entitled to an (SSN) because you are a resident or non-resident alien in the US, you will need to acquire an ITIN (Individual Taxpayer Identification Number).

This tax processing number is issued by the Internal Revenue Service (IRS). It is a nine-digit number that begins with the number nine and has a seven or eight in the fourth digit (for example, 9XX-7X-XXXX). To be eligible for an ITIN you must fall into one of the following categories: 

1. Non-resident aliens who are required to file a US tax return

2. US resident aliens who are (based on days present in the US) filing a US tax return

3. Those dependent or spouses of a US citizen or resident alien

What are the benefits of the ITIN?

When you obtain an ITIN:

a. It serves as your identification number for filing your federal taxes.

b. It allows you to get a refund from your income withheld by the IRS if you qualify.

c. It allows you to file your taxes and claim dependents you support in the US, Mexico, or Canada.

d. It also allows you to open a bank account in the US.

Applying for an ITIN number

The ITIN number is available only to certain non-resident and resident aliens, their spouses, and dependents who cannot get an SSN. To apply for an ITIN, you can reach out to tax and accounting specialists like Bose Tax & Accounting LLC. As Certified Acceptance Agents (CAA), we can help verify your supporting documents and issue a Certificate of Accuracy (CoA). The benefit of this is that you do not have to send your original documents to the IRS. We will submit copies of your documents, along with your ITIN application, to the IRS for you.

We will also take care of the leg work for you, so you don’t have to worry about the process. Moreover, our services for the ITIN application cost only $175. To avail of our services, you can either reach out to us by emailing us at info@bosetax.com or by calling us at (800) 226-9050. We are an accounting firm in Perth Amboy, New Jersey. We specialize in helping individuals and businesses with accounting, business, and tax solutions. Our services can be modified to fit all kinds of individuals, businesses, and circumstances. We are dedicated to meeting your needs by understanding your situation thoroughly and setting up an accounting system that accurately fits your requirements. That way, you can concentrate on running your business or growing your wealth instead of trying to stay on top of your books.

To learn more about our services or about the ITIN application process, validity, and eligibility, please contact us by clicking here. For details on our services, please click here

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