About the ITIN
First, let’s take a look at what the IRS website has to say about ITINs:
A Taxpayer Identification Number (TIN) is an identification number used by the Internal Revenue Service (IRS) in the administration of the tax code. It is issued by the Social Security Administration (SSA) or the Internal Revenue Service (IRS). The Social Security Number (SSN) is issued by the SSA, while all other Taxpayer Identification Numbers (TINs) are issued by the IRS. The ITIN number is similar to the Canadian ITN.
Taxpayer Identification Number (TIN)
- Social Security Number “SSN”
- Employer Identification Number “EIN”
- Individual Taxpayer Identification Number “ITIN”
- Tax Identification Number “ATIN” for Children to be Adopted from the U.S.
- Tax Preparer Tax Identification Number “PTIN”
The Individual Taxpayer Identification Number (ITIN) is a tax processing number available only to certain nonresident and resident aliens, their spouses and dependents who cannot obtain a Social Security Number (SSN). It is a nine-digit number that begins with the number “9” and is similar in format to an SSN (XXX – XX- XXXX).
An Individual Tax Identification Number (ITN) can be used to: file federal tax returns; file non-immigrant state tax returns; open a bank account; apply for a credit card; and obtain telephone service. (Possession of an Individual Tax Identification Number (ITIN) does not prove that an individual has legal status in the U.S. and therefore does not entitle the individual to U.S. tax benefits.)
The ITIN is valid for five years, and you must file a tax return once every three years; an expired ITIN can be renewed.
Usage of ITIN
What are the uses of ITIN? They are listed below:
- Filing tax returns for LLCs.
- Getting a U.S. bank account. Such as Captial One 360 and Discover checking, Citibank Citi bank.
- Buying a home in the US.
- Certify US Paypal, Stripe, and Google Adsense.
What documents are required for ITIN processing?
- Completed W-7 (ITIN request form)
- Original or certified copy of identification document (Passport within the validity period or a copy of the passport certified at the U.S. Embassy. See the list in the W-7 instructions for other IRS-approved identification documents)
- Tax form (Dividend Income 1042S or Interest Income 1099-INT (Interest Income, $10 or more will be received) royalties)
- 1040NR (Non-resident individuals generally use 1040NR or 1040NR-EZ) This is our Tax Return form, I believe most people use TurboBox to automatically survive this form. Note that you need to leave the SSN field blank for ITIN applicants
- Have a U.S. address, your own domestic address, and a phone number.
Processing of ITIN through Fiverr
Go to the Fiverr website and enter “ITIN” in the search field, we can see that there are some service providers offering ITIN handling services:
For example, if you choose this price of $260, you only need to video certify your passport + provide a scanned copy of your passport, and non-U.S. residents need to pay an additional $50 to take care of the tax issues (that is, to pay taxes on your behalf). That means your cost is $310 ($260 + $50).
After payment, the following information is required:
- Scanned copy of passport (300dp)
- Provided US address – Anytimemailbox US virtual address
- Address in home country – residential address.
- U.S. phone number, which can be used with OpenPhone VoIP
After uploading your information, wait about 3 days for the agent to complete the 1040 form and W7 form, upload it through Fiverr, and then notify you to sign it.
Sign your name in each of the following two places, matching the signature on your passport:
- Form 1040: Sign Here/Your signature on page 2
- Form W7: Sign Here/ Signature Of appliceant
Print the above 2 pages and sign them, then upload them to Fiverr, after completing the above steps, look for an agent to book a time for a video conference to authenticate your passport. The video conference is done through Zoom, download the app in advance before the meeting, make an appointment and the agent will send you the link to the meeting, just click on the time to enter the meeting.
The process of the meeting is very simple, even if the English is not good do not have to worry about, just need to passport front page to the camera, let her confirm that you are you can. After the meeting, the entire ITIN application process is complete, provide an e-mail address to the agent for future communication, and then wait patiently for the ITIN letter to arrive at Anytimemailbox’s U.S. mailing address.
