What is ITIN Number? [Updated In 2020]

Today we’re going to be talking about the number one question when it comes to ITINs, which is what is an ITIN number?

The ITIN tax ID which stands for Individual Tax Identification Number was brought about by the IRS back in 1996.

The reason why they brought it out was because in the US there were so many individuals who were not citizens, they did not have Social Security Numbers but they were making income in this country.

They were actually trying to report it and abide by the system and comply with the federal government but they had no way of filing their tax returns and reporting their income because they did not have a Social Security Number.

Start your ITIN application here: ITIN.com

What the IRS decided to do

Its come out with the Individual Tax Identification Number, the ITIN to help them do so. Take it a step further there was also a demand for people who were in this country.

And who did not have Social Security Numbers but were trying to open up bank accounts, trying to apply for credit cards, trying to do a lot of other things so the ITIN also became the alternative social security number for those purposes as well.

Then take it internationally, there was a significant amount of non-residents living abroad who also would need the ITIN for their tax reporting purposes as well too.

Whether they were earning specific types of income like royalties or dividends or rental income, pensions, annuities for many US companies, or they had US registered businesses that they were operating from abroad, and they had tax reporting requirements.

By not having a social, they were having issues filing their taxes. So let’s go ahead and jump into it in terms of explaining what you comply with your ITIN what was used for.

Who Needs Individual Tax Identification Number

Individual Taxpayer Identification Number (ITIN) is a personal Tax ID number issued by the Internal Revenue Service to individuals who are required to have a U.S. taxpayer identification number but who do not have and are not eligible to get a Social Security number (SSN).

ITINs are issued regardless of immigration status because both resident and nonresident aliens may have a U.S. filing or reporting requirement under the Internal Revenue Code.

Start Your ITIN Application Here

Where Can Use ITIN Number

Here is the following things in which you can use your ITIN Number:

As most of you know, your ITI you can use it to file and pay tax.
Use it for a lot of basic functions?
It’s your individual tax apartment number for rents, to finance a car.
So informative, whether it’s a personal account and you don’t have a source key number brokerage account is trying to turn the stock market apply for business ownership.

For example, if you’re a LLC corporation, you have any questions, whether you’re based in station was outside of the state, we’d love to help business. And you guys so much for your time, take it for you’re blessed.

You’re going to need your ITIN to help:

open up your U.S. Business bank account
open up merchant accounts payment gateway is like Stripe and PayPal and obviously to also enroll on other platforms like Amazon Shopify, eBay.

If you’re a non-U.S. citizen and you do NOT have an SSN, you need an ITIN to:

File tax return and pay taxes
Open a U.S. bank account (both personal and business) (ITIN is mandatory for opening a U.S. bank account if you don’t have an SSN)
Open online accounts (like PayPal, Stripe, Square, Amazon etc.)
Comply with U.S. Federal withholding requirements on earned income (such as Royalties, Dividends, Rental Income, etc)
Provide it to your employer to help get a job
Apply for mortgage loan
Apply for apartment rental
Finance a car
Apply to get a credit card
Get a job
And so much more…

Yeah the icons used for a lot of different reasons in that regard. Then also moving into specific types of income, if you’re earning specific types of income like royalties or dividends or annuities or rental income or pensions or annuities.

You’re going to be faced with a withholding as a non U.S. citizen if you don’t have a Social Security Number. You are going to be faced with a withholding on that income, that withholding can be reduced with the ITIN.

Having a tax ID number can reduce the rate of withholding, that’s another key thing to use the ITIN for.

Also, if people who are in the real estate game, if they’re a non US citizen, they bought US real estate and they’re looking to sell that real estate that income could be withheld from them due to not having that tax ID so the ITIN is used for that as well too, FIRPTA cases, as we referred to them.

Then also, you can also use your ITIN to help you obtain a mortgage, only if you qualify of course. It’s one of the things they do look for in place of the SSN.

The ITIN is useful, there’s so many different things you could use it for. A lot of people don’t even really know a lot of these uses that we’re talking about for the ITIN and how it comes into effect and how it plays.

People just mostly think about just bank accounts and tax returns but there’s honestly so much more that it ties into. Like I always tell everyone that I work with or that I can solve for, the ITIN is honestly the glue to everything for the non US citizen, it’s so essential.

Get Started with ITIN Application today.

There’s Only ONE Thing You Need to Get Your ITIN Without Any Hassle (Guaranteed)

And that is…

Working personally with a Certifying Acceptance Agent (CAA)

Literally, this separates those who get their ITIN in a matter of weeks from those who “die trying”.

In short…

CAA is a person who is TRAINED and AUTHORIZED BY THE IRS to help non-U.S. citizens apply for and get their ITIN.

A Certifying Acceptance Agent can help you…

✓ Process Your ITIN Application MUCH Faster And Reduce The Risk Of Getting Rejected and Correct Every Revision Required From The IRS - You DON’T Deal With The IRS At ALL!

✓ Speak Directly To The IRS On Your Behalf - Forget About Dealing With Inefficient Government Agencies

✓ Verify Your Identity From The Comfort Of Your Own Home (Skype or Facetime) - No Original Passport or ID Documents Are Sent To The IRS!

I Process the ITIN Application With the IRS and You Receive Your ITIN in Less Than 5 Weeks.

You focus on your business. I focus on the paperwork.

It’s that simple.

Successful ITIN’s Received (For My Past Clients)

I Process The ITIN Application With The IRS And You Receive Your ITIN In Less Than 5 Weeks

You focus on your business. I focus on the paperwork.

It’s that simple.

What used to take me 6 weeks, I can get done now in 1 day.

But don’t just take my word for it…

Here’s What Others Are Saying About Working With Me As Their Certifying Acceptance Agent (CAA)

Andres Jimenez, Non-U.S. Citizen from Costa Rica

Ripan Bhattacharjee, Non-U.S. Citizen from India

Miguel Lozano, Non-U.S. Citizen from Mexico

With An ITIN You Will Be Able To…

Open a U.S. Bank Account
File Your Taxes
Generate income in the U.S.
Sell virtually on any online platform (Amazon, eBay, Shopify, etc…)
Receive payments through PayPal, Stripe, Square, or any other payment processor.

We hope this article was really informative, and hope you guys now understand not only what an ITIN is, but what it’s for now. If you are ready to apply for your ITIN don’t hesitate, there’s no one better than us to go and help you with it.

Go ahead and contact us at info@itin.com and we can go ahead and answer any questions you have and then get you started with the service. Or if you are ready to go, you don’t have any questions just go ahead and click the link below to get started.

Once you’ve submitted your order form we’ll go ahead and we’ll start working with you on getting your ITIN paperwork taken care of and we’ll follow with the IRS to help you get your ITIN.

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