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In the United States, the Internal Revenue Service is an institution that takes tax evasion very seriously. To do your duty, you may need what is known as an ITIN, whose function we will explain in more detail.
It may interest you: Personal loans with ITIN number
What is the ITIN
It is the Individual Taxpayer Identification Number (ITIN), which is issued by the Internal Revenue Service (IRS) so that you can pay taxes.
We can say that this tax designation replaces the Social Security Number (SSN) when you are not eligible to get one or simply do not have one yet.
In this sense, the ITIN is issued so that you can comply with your tax obligations regardless of your immigration status in the United States. The way to obtain it is through a valid tax return and the corresponding requirements (with some exceptions).
Contrary to what you may believe, this ID does not make you eligible for Social Security or tax refunds. This number is characterized by having 9 digits in sequence and always starts with the number 9. In addition, it usually includes the digits 70 through 88 between the 4th and 5th digit.
The U.S. government, as of 2011, expanded the tens of intermediate numbers to incorporate sequences ranging from 900-70-0000 to 900-88-0000 and 900-90-0000 to 900-94-0000.
What the ITIN is for
While you already have a pretty good idea of its purpose, the ITIN is only used to process tax and fiscal reports.
It is designed to enable you to comply with the tax laws of this country and to be an efficient means of processing returns for those who do not qualify for or currently do not have a Social Security Number.
May interest you: What is the Green Card and what you need to obtain it?
It must be understood that the fact of having the Individual Taxpayer Identification Number does not grant additional benefits.
We have already mentioned that it cannot be used for Social Security, but it also cannot be used as collateral for employment or to obtain what is known as the Earned Income Tax Credit (EITC).
Can I apply for loans with an ITIN (without Social Security)?
Yes, there are many financial institutions that offer you financing even if you do not have a Social Security Number, since the ITIN also serves as identification.
If you want to know some of the financial institutions that offer personal loans with ITIN, you can check them out in the selection we have made from Busconómico.
Who needs an ITIN?
There are several conditions for you to opt for an ITIN when you are in the USA. We have already emphasized the most important and there are other conditions, such as:
- You are required to file a tax return and you need a federal tax identification number.
- You are a resident or nonresident alien required to file a U.S. tax return.
- You are the dependent or spouse of a nonresident alien who does not have a visa.
- You are the spouse or dependent of a U.S. citizen or resident alien.
- You are a nonresident alien who wants to qualify for a tax treaty benefit.
- You are a foreigner as a teacher, researcher or student, who is claiming an exemption or has to report your taxes.
How to apply for an ITIN?
When you do not have a SSN or are not eligible to have one, the way to get an ITIN is through the W-7 form, which is the application for this ID.
Unless you qualify for an exception, you must attach a valid federal return. This must be accompanied by original documents or certificates validating your identity as a resident or alien and sent to this address:
Internal Revenue Service
Austin Service Center
P.O. Box 149342
Austin, TX 78714-9342
If you want to send in the form, you can request the assistance of an IRS-authorized processing agent or visit an IRS office near you, better known as a Taxpayer Assistance Center.
These types of facilities can only assist you by personal appointment. In contrast, the ITIN department in Austin processes all applications by mail.
How long to wait for an ITIN
Assuming you qualify for this process and have submitted your application with all the requirements, the IRS will send you the identification number in 7 weeks.
If you do not hear back or simply do not receive it, you can call 1-800-829-1040 if you are in the U.S. to find out the status of your application. If you are not in the U.S., you can call 1-267-941-1000 (surcharges apply).
ITIN expiration or renewal
As a reminder, you should know:
- An ITIN that is not used at least once on a tax return every 3 years will expire on December 31 of the third year.
- All ITINs issued prior to 2013 and with intermediate digits 83 through 87 expired at the end of year 2019.
- ITINs with intermediate digits ranging from 70 to 82 expired between 2016 and 2018.
Español: Qué es el ITIN, para qué sirve y cómo solicitarlo