Get Tax Id for PayPal account

Get Your ITIN for PayPal

If you are willing to stay with your loved ones in the United States, you will have to obtain H4 visa along with an ITIN number. There are many principal investors in the US who also want to live with their family. Living in the United States will require you to pay taxes. Also, as a dependent you will also have to get your ITIN for PayPal or bank account. There are many dependents who want to obtain one, but they do not know the entire procedure.

Be it residents or non-residents, individuals have to obtain a tax ID number in order to fulfill the tax obligation. You will be getting the tax ID number from the IRS. In addition to this, both of them are not given same kind of tax ID numbers. All three forms of tax ID numbers differentiate from one and another and are given according to the status of the individual. In order to get your ITIN for PayPal, you will have to explore the detailed procedure. Read this blog and understand the entire procedure to get your ITIN for PayPal.

If you need help applying for an ITIN number to open your PayPal account call us at 407-344-1012, or email us at info@freedomtaxfl.com.

Overview to Individual Taxpayer Identification Number (ITIN)

Before we take the plunge to explaining how to get your ITIN for PayPal, you should first understand about all forms of tax ID numbers and ITIN in general. It has five types out of which only three of them are active. Given to both, the non-residents and residents these numbers let individuals pay off the taxes. The three active forms of numbers are Social Security Number (SSN), Employer Identification Number (EIN) and Individual Taxpayer Identification Number (ITIN).

ITIN number is one of the main forms of tax ID numbers that is given to those individuals who cannot get SSN number. It normally begins with 9 and is a 9 digit code. The core reason of this number is to fulfill the tax obligation for the state. Additionally, it is mainly given to the non-resident aliens.. For example, if a principal investor wants to call their family members within US, they will be considered as dependents and will be given an ITIN number.

Such dependents are considered non-resident aliens and are given ITIN number. This number does not proof the identity of the status. Hence, it is given to illegal immigrants. Moreover, the Social Security Number (SSN) and Employer Identification Number (EIN) are the numbers that are given to individuals who want to become employee and employer in the US, respectively. Social Security Numbers (SSN) are given to residents of the United States. Also, they can file taxes using these numbers as well as work in company of the United States with the help of these numbers.

In addition to this, Employer Identification Numbers (EIN) are the ones that are given to those individuals who are able to develop and direct the business in the United States. The method of obtaining all three of them is different and complicated. If you are not sure about it, you can hire an attorney. They can help you in making a wise decision.

In order to get your ITIN for PayPal, you need to fill W-7 Form. The entire procedure regarding the obtaining the ITIN number will be explained further. Filling the form is the core element in obtaining the ITIN number. The form is a bit complex and complicated though. Once you have filled it properly, you will be get your ITIN number in hands.

Furthermore, in order to get your ITIN for PayPal, you should ensure to fill the form with genuine and correct information. The information will be cross checked by the IRS. In case, it is found incorrect or false, the IRS has right to disapprove your form. Additionally, there are some difficult and complex terms used in the form which you may not be able to understand which can lead to mistakes and incorrect information.

In order to get your ITIN for PayPal, you will be required to obtain Form W-7. If you are unable to fill it properly, make a wise decision, hiring a local lawyer so that there are no chances of rejections or disapprovals. Besides filling the form, there are many other ways to apply for the ITIN number. Usually, people follow the online procedure to get your ITIN for PayPal. With this method, people have now given up going to the IRS office which ultimately saves times. With the online procedure, you just have to download the form online and fill it. Once you have checked everything is filled properly and there are no errors, you can simply send it to the online IRS website.

Once the IRS will cross check all the information and confirm that it is genuine, you will get your ITIN for PayPal and for reporting taxes in the long run. Besides the online method, there are many other ways you can choose from. You can choose mailing by post, and telephonic conversation as well. In order to explore the procedure to get your ITIN for PayPal, keep reading this blog.

Core Aim and Benefits of Obtaining ITIN Number

In order to understand to the procedure behind getting your ITIN for PayPal, you should also know the core aim of getting an ITIN number. Besides helping you with PayPal account, the ITIN number has a core aim. Here is the core aim and some benefits of ITIN number all illegal immigrants should know about.

  • The core aim of an ITIN number is to report for taxes to the Internal Revenue Service.
  • Sometimes, it can also act as identification for the individuals.
  • It also permits them to open a bank account in the United States. When you get your ITIN for PayPal, you can successfully make transactions.
  • Individuals can also apply for the mortgage loans using these numbers.

Do You Really Need the ITIN Number?

Generally, the illegal immigrants who are not eligible for the SSN number are required to obtain the Individual Taxpayer Identification Number. But there can be some more people who may require getting an ITIN number. Let’s explore some individuals who come in the list other than the illegal immigrants.

  • An individual who will have to file US taxes.
  • A resident individual is obligatory to file taxes on the basis of days they have been living in the US.
  • A spouse or dependent of an illegal immigrant visa holder.
  • A spouse or dependent of United States’ citizen.

Revised Application Procedure For the ITIN Number

In order to get your ITIN for PayPal, you should understand that now the procedure is revised with some amendments in it. The reason behind making those changes and modifications is to ensure safety of the taxes. With the amendments, the taxation procedure has been made safer than before. Additionally, the revised procedure has further strengthened the ITIN program. Besides this, individuals have also started to take things more seriously and provide taxes promptly.

If you also want to get your ITIN for PayPal, then you should also consider the amendments in the procedure. Though, the entire procedure has not been changed, yet the new form has involved some new elements in it. Consequently, in order to get your ITIN for PayPal, make sure that you fill the revised Form W-7. If you want to get your ITIN for PayPal, you should read the revised procedure and ensure to follow it too. This leads us to our next section about revised ITIN application process.

How to Get Your ITIN for PayPal? – Read Quick Procedure Here

If you want to get your ITIN for PayPal, this section will cover all the necessary details to help you in understanding it properly. The procedure of obtaining this number is not very complicated, but it is the form makes it complex. It is followed by simple steps, yet the form has certain technicalities which makes it difficult to fill. If it is the first time, you are filling the form, then you may find some difficulties therefore it is better to simply visit your local lawyer and ask them to help you in filling it. Here is the procedure to get your ITIN for PayPal.

·       Step # 1: Check about Eligibility

The basic thing that you should keep in mind before you get your ITIN for PayPal is to see about its eligibility. There are some people who qualify for it while some of them do not. Let’s explore who are the ones who come under the list of eligible individuals.

  • Those individuals who cannot get an SSN number can obtain an ITIN number.
  • The United States residents are required to file taxes.
  • the illegal immigrants or dependents, living in the United States are also required to file taxes.

·       Step # 2: Obtain the Form W-7 and Fill It

One of the main parts to get your ITIN for PayPal is filling the form W-7 carefully. In this step, you can either fill the form W-7 online or get its hard copy. An easy way to get these forms is to go on the IRS’s website and simply download them from there.. The form will contain several important instructions. Make sure that you read through each one of them carefully. Additionally, due to the revised laws, the form has also been revised. Make sure that you download or get the revised and updated form from the Internal Revenue Service.

Generally, the instructions will help you in guiding according. If you see that you are unable to fill the form, you can simply go to a lawyer and ask them for help. They can help you with the form and also cut down the chances of mistakes. Once you have filled the form, you will also be required attach the following documents.

  • You have to attach the documents that can help identifying your foreign status.
  • You have to attach the federal income tax return.
  • You should also attach the original documents that prove your identity status.

If you require help in filling the form, IRS representatives are there to help you out with that too. They are well-versed and can help you in filling it efficiently. Also, you need not visit the IRS, United States locals can simply call the IRS department at 1 800 829 104 and ask for their guidance. Those who are living outside the United States, they can simply call 267 941 1000 for help. You can get all the documents and forms verified, visiting the IRS office. .

·       Step # 3: Submit the Form

In order to get your ITIN for PayPal, you now to put the form forward and submit it to the IRS. Before you submit the form, you need to make sure whether or not you have attached all the documents for it. To get your ITIN for PayPal, you should know the address to mail it. Most of the people try to mail the form to the Internal Revenue Service. While there are many ways to get your ITIN for PayPal, mailing is one of the most common ones. Though, nowadays many people opt for online form submission. If you want to mail the form, you can submit it to the following address.

Internal Revenue Service

Austin Service Center

ITIN Operation

P.O. Box 149342

Austin, TX 78714-9342

Once you have submitted it, the IRS representatives be checking the form properly. They will see if the information is genuine or not by cross checking all the information you have provided. It is very important to fill correct and genuine information. Your ITIN number will be in your hands if you have correctly filled the form. If there is any fault or incorrect information, the form will not be approved by the IRS.

In order to get your ITIN for PayPal, you will then have to submit another form W-7. In order to get your ITIN for PayPal quickly, make sure that you fill correct information and the IRS cross-checks and send you the ITIN number as soon as possible.

Which Documents are Required for Getting the ITIN Number?

As we have mentioned previously that there are some necessary documents that need to be attached. Once you are done filling the form, you also need to attach the necessary documents too. If you want to know how to get your ITIN for PayPal, you should ensure to have all the documents with you.. There are thirteen documents in total which can help you in getting that number.

Just make sure that each one of them are updated and current including the expiration and validity date. Find the list of those thirteen documents below which you should not forget to attach with the form W-7 in order to get your ITIN for PayPal successfully.

  1. Make sure you fill the Form W-7 properly.
  2. After filling the form, you also have to attach your ID card that should cover the following aspects.
  • It should cover your full name
  • It should cover your original birth date
  • It should cover your colored and current passport size photograph
  • It should contain your city name, state and ZIP code
  • It should also include your card’s validity and expiration
  • It should also cover your update address
  1. After the identity card, you should put the passport with it.
  2. Do not forget to fasten the foreign driving license.
  3. In case an applicant is under 18 years of age, they have to attach their birth certificate as well.
  4. You are also supposed to attach the driving license of the United States.
  5. Make sure that you also include the foreign voter’s registration card.
  6. You should also attach foreign military identification card number.
  7. Make sure you attach your US State identification card.
  8. You will also have to attach the ITIN number when you show the US military identification number.
  9. You should show the United States’ Citizenship and Immigration Service photo in order to obtain the ITIN number.
  10. In case children are less than 16 years, they should attach the proof of records for their children.
  11. Illegal immigrants should also include their children’s school records from who are from 14 to 18 years of age.

Final Thought

Getting ITIN number is really very necessary for illegal immigrants in order to pay off taxes and open one’s own bank account so that they are able to do transaction. Now that you know the procedure to get your ITIN for PayPal, we hope you will be able to obtain it successfully. Good luck!

 

If you need help applying for an ITIN number to open your PayPal account call us at 407-344-1012, or email us at info@freedomtaxfl.com.

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