This Is How You Complete or Apply For An ITIN Renewal

You may be one of the many taxpayers who need to open a bank account, pay U.S. taxes, file a U.S. tax return, aside from other things but may not get qualified for an SSN or Social Security Number. You must get your ITIN or tax identification number first. However, it is very likely for the ITIN to expire on a staggered basis if it has not been utilized on any of the tax returns for three succeeding years.

You may want to renew an expiring ITIN or apply for an ITIN for the first time. However, the process of renewing the ITIN may involve a paper application and various forms of identification that may take up to 14 weeks for processing. One of the things that can make the ITIN renewal process easier is through the help of a CAA or a Certified Acceptance Agent. The CAA could help in allowing the applicant to store the vital documents and speed up the process instead of sending it to the IRS through the mail.

Who Are Required To Get In ITIN?

Any person who works and earns money in the USA and files an American tax return but doesn't qualify for the SSN would have to submit their application for an ITIN. The ITIN is also what the workers' family members need so they wouldn't have to pay more taxes than what they actually owe. One example is the requirement for an ITIN to claim a qualifying child's dependent exemption.

The ITN will allow people to be able to complete the following tasks:

• Open an account with any bank and then apply for a loan
• Keep their taxes filed
• If qualified, get a tax refund
• Create a tax compliance history
• Claim any qualifying relatives especially their spouses. There may be cases when they meet these requirements despite the fact that they live in Canada or Mexico.
• The demonstration of the need for financial aid for the education of their child.
• Claim any qualifying relatives such as their spouse. There are cases when you can still meet these requirements even if these people reside in Canada or Mexico.

Aside from these, taxpayers who were not able to use their ITIN on any tax return for the past three years may discover that their ITIN is expired by the end of the year. These people would have to renew their ITINs in case they want to file a tax return while they are in the current filing season.

How To File Your Tax Return

1. Keep every document organized.

ITIN applicants should possess the latest documents that show proof of their identity as well as their foreign status. In certain cases, the IRS can accept unexpired and original passports as the sole proof of the identity as well as the foreign status of primary taxpayers including their spouses, and dependents. The following documents can also prove an applicant’s foreign status and identity:

• American driver's license,
• The U.S. Department of State-issued visa and photo identification from the USCIS or U.S. Citizenship and Immigration Services 
• Foreign driver's license
• American military identification card
• National identification card
• Foreign military identification card
• Foreign voter's registration card
• Civil birth certificate
• American state identification card
• School Records (for students and dependents under the age of 18)
• Medical Records (for dependents under the age of 6)

2. Submit the application through the mail that includes their tax return, completed W-7 application as well as all of the supporting documents needed to the IRS at:

Internal Revenue Service

ITIN Operation

P.O. Box 149342

Austin, TX 78714-9342

It may take as long as 14 weeks for the IRS to process the application and then return the documents.

In order to expedite the renewal process of the ITIN, you may need to seek out a CAA.

When you can apply for an ITIN

Since it may take up to more than three months to get an ITIN and because filing for a tax return including the eligibility for specific tax breaks requires the ITIN, it will be best if you can renew the ITIN prior to the start of the tax season in January. The IRS now allowed the process of renewing the ITIN to begin in June.

There may be taxpayers who may have to submit an application for the ITIN for the first time. Most of the time, these people would need to include their tax return. Despite the fact that it may be a bit too early to file a 2018 tax return that is due on April 2019, these people may submit their ITIN application with earlier tax returns as soon as possible. The CAA can provide assistance to people so they would have enough knowledge about their options and do the best for their situation.

Some taxpayers who need to open a bank account, pay U.S. taxes or file a U.S. tax return, among others may not become qualified for an SSN or Social Security Number because they would need to attain their ITIN or Individual Taxpayer Identification Number first. The ITIN is not like SSN as it may expire when it has not been in use on any tax return for three consecutive years or on a staggered basis.

Whenever you get in the process of renewing an expiring ITIN or applying for an ITIN for the first time, the process of renewal may involve paper application, multiple forms of identification as well as a maximum of 14 weeks for processing it. One of the things that can make the renewal process of the ITIN easier is through the assistance of a CAA or a Certified Acceptance Agent. This person can provide assistance in allowing the applicant to store the essential files and expediting the process instead of mailing these to the IRS.