Define: Individual Taxpayer Identification Number

An Individual Taxpayer Identification Number (ITIN) is a tax processing number issued by the Internal Revenue Service (IRS) to individuals who are required to have a U.S. taxpayer identification number but are not eligible for a Social Security Number (SSN).

Individuals who are not eligible for a Social Security Number but have a requirement to file a U.S. federal tax return or are listed as a dependent on someone else’s tax return may need an ITIN.

To apply for an ITIN, you need to complete Form W-7, Application for IRS Individual Taxpayer Identification Number, and submit it to the IRS along with the required supporting documents, such as a federal tax return or other identification documents.

No, an ITIN is not valid for employment purposes. It is solely used for tax reporting purposes.

The processing time for an ITIN application can vary, but it typically takes around 7 to 11 weeks for the IRS to process the application and issue the ITIN.

Yes, ITINs issued after December 31, 2012, have an expiration date. ITINs can be renewed by submitting a new application before the expiration date.

Yes, individuals with an ITIN can claim the Earned Income Tax Credit (EITC) if they meet the eligibility requirements.

No, an ITIN is not proof of legal immigration status. It is only used for tax purposes and does not grant any immigration benefits.

Some financial institutions may accept an ITIN as a valid form of identification to open a bank account, but it ultimately depends on the policies of the specific institution.

Yes, nonresident aliens who have a requirement to file a U.S. federal tax return or need an ITIN for other tax-related purposes can apply for an ITIN.