Individual Taxpayer Identification Number (ITIN)
An ITIN is a tax number assigned to certain nonresident aliens, their spouses, and children who are not eligible for a social security number. It is utilized for reporting purposes to the Internal Revenue Service. The number may be needed for a variety of reasons, for example,
- when a foreign investor becomes a partner in a limited partnership in the United States;
- when a foreign businessman opens a company in the U.S.;
- when a foreigner seeks to open a bank or investment account in the U.S.;
- if a foreigner is married to a U.S. citizen or permanent resident, and the U.S. person seeks to claim a tax exemption for the spouse;
- when a dependent/spouse of a non-resident alien holding a U.S. visa is not eligible for a Social Security Number.
How to apply?
It is necessary to complete the Internal Revenue Service form, attach a U.S.-notarized identification document, and an explanation for the reason that you need an ITIN. In certain cases, it is necessary to prepare and attach a U.S. tax return together with the ITIN application.
How long does the process take?
In general, after the submission of the pertinent documents, the IRS assigns an ITIN within six weeks.
How does White & Associates help?
We can assist you in deciding whether you are eligible for the ITIN, and if so, in the preparation of the application form. If you require the completion of a U.S. tax return, we can make arrangements to have a U.S. tax professional prepare your declaration. If any interaction is required with the IRS, we can provide such assistance. Please contact us for more information.