ITIN, Individual Tax Identification Number is issued to individuals who have taxable income and are not eligible for SSN, Social Security Number. The sole purpose of this nine digit number is that it is used for federal tax reasons. Apart from this, this number can also be used to gain financial services.
Apply for the ITIN
If you haven’t yet applied for your ITIN number, you’ve two straight options.
a) Apply in-person
b) Via CAA (Certified Acceptance Agent)
If you’re more satisfied doing everything yourself especially when there are legalities involved then filing in-person would be a better option. You’ll need a W-7 ITIN application form that you can easily get from the IRS office (Internal Revenue Service that is responsible for issuing an ITIN). You need two individual identification documents (passport, birth certificate, identity card, driver’s license etc.) and get them certified by the issuing agency.
Once done with these steps, sign it and mail the form along with the documents to the IRS. The total time duration of this process is usually about say 6 weeks. For assistance, you can call on this toll free number 1-888-509-3616.
If you’re not willing it to do it so much yourself, you can get yourself an agent. These professional agents are authorized by the IRS and they’re highly reliable. The fee you pay is almost nothing. Your agent will explain you everything and will give you a short of list things he/she requires. If your tax return needs touch ups, your agent will be more than happy to revise them.
Plus you don’t have to get the documents certified yourself; your acceptance agent will take care of this! Because that’s what your agent is there for. They assure the IRS that everything is good to go and this just makes the process hassle-free.
Some banks tend to accept ITIN for the purpose of proof of identification. So when an individual applies for a credits card or a bank load, ITIN number can be used depending on the bank policies. When you do this, you basically start making a credit history. But you have to make sure that you report your tax returns accurately.
All the major credit agencies assemble an individual’s credit history by gathering basic information from the creditors, meaning banks or any other financial institution. They’ll generally want your personal information such as your full name, date of birth, address and of course SSN. So you see, SSN and ITIN cannot be used to replace each other. They both have separate reasons for their existence.
A little piece of advice to all the readers is to never fool around with your ITIN or SSN. When a form says, ITIN, you better write your ITIN and when it says SSN, you must mention your SSN. Never cross a line or commit a fraud because if you do, you might as well picture yourself stuck behind the walls.
As soon as the credit agencies get what they want, they’ll begin to verify the data you provided. If everything is good to go, the agency will create a credit report and it’s all done. All you have to do is provide them the correct piece of information. That means making sure that your name spelling and other personal data is always the same because in order to build credit with your ITIN, it’s important that the data matches every time.
If you want to apply for an, Individual Taxpayer Identification Number, or ITIN tax number and have any other questions, please feel free to contact us at 888-509-3616. If you have any suggestions please share those with us as well. Freedomtax ITIN Number has a professional team of IRS Certifying Acceptance Agents, and tax accounting professionals with more than 16 years of experience, helping immigrants with their ITIN application. Freedomtax can also help immigrant entrepreneurs incorporate a business in the USA. Freedomtax ITIN Tax Number Online services provides Quality, Professional Service with a Family Feel.