ITIN Guide
Cory
July 21, 2023
What is an ITIN?
An ITIN (Individual Taxpayer Identification Number) is a tax processing number issued by the United States Internal Revenue Service (IRS) to individuals who are required to have a U.S. taxpayer identification number but who do not have, and are not eligible to obtain, a Social Security Number (SSN). ITINs can be issued to both resident and nonresident aliens for tax purposes. [1]
How do I get an ITIN?
1. Complete the Form W-7: You need to fill out the Form W-7, which is available on the IRS's website. You can either download the form or request it by mail.
2. Gather Required Documents: Attach the necessary documents that support your application for an ITIN. The documents you need will depend on your situation, but generally include proof of identity and foreign status, such as a passport or immigration documents.
3. Submit Your Application: You can submit your application in person at an IRS Taxpayer Assistance Center or through an Acceptance Agent. You can also mail your completed application package with the required documents to the IRS address provided on the Form W-7 instruction. [2]
4. Wait for Processing: It usually takes about six weeks to process an ITIN application. However, the processing can take longer during peak tax season.
5. Receive Your ITIN: The IRS will send you a letter with your assigned ITIN once your application is approved.
It is important to ensure you meet the eligibility criteria before applying for an ITIN. You can visit the IRS website for more information on eligibility and how to apply for an ITIN. [3]
How do I check on the status of my ITIN?
You can check the status of your ITIN by calling the IRS toll-free number at 1-800-829-1040. You will need to provide your full name, mailing address, birthdate and any other supporting documentation as requested. It typically takes 6-10 weeks for the IRS to process ITIN applications. [4]
How can I use an ITIN?
An Individual Taxpayer Identification Number (ITIN) is typically used to file taxes with the Internal Revenue Service (IRS) if you do not have a Social Security number, but here are some examples of how you might use an ITIN otherwise:
1. File taxes. You can use your ITIN to file your federal income tax return with the IRS.
2. Open a bank account. Some banks may allow you to open a checking or savings account with an ITIN.
3. Buy a car or property. You can use your ITIN to apply for financing to buy a car or property.
4. Apply for a credit card. Some credit card companies may accept an ITIN instead of a Social Security number.
5. Apply for a loan. You can use your ITIN to apply for personal or business loans.
Additional information
Citations
[1] https://www.irs.gov/individuals/individual-taxpayer-identification-number
[2] https://www.irs.gov/individuals/how-do-i-apply-for-an-itin
Links