Our offices assist clients with issuing US identification numbers for individuals and companies.
INDIVIDUAL TAX IDENTIFICATION NUMBER- ITIN
An ITIN is a 9-digit number, often starting with the number 9. It is used by foreign individuals in filing US taxes.
The ITIN is issued after filing a request and identifying the individual via an original document such as passport, birth certificate, etc. It is issued within 3 months of the forms’ receipt in the US. The number is valid for three years. If it is not used for three consecutive years, is becomes void.
Being licensed agents of the tax authorities, we can validate and identify original documents without having to send them to the US. We can also call in and request the number ahead of time.
ITINs are usually requested by adding the request and document copies to the 1040 form. There are several exceptions that enable the issuing of this number without or before filing the report:
1(a) – investment in a US partnership;
1(d) – investment in a yielding property, etc.;
4 – The sale of real estate by a foreign citizen.
There are several other exceptions, all of which require additional documentation apart from the identifying document. Our offices have assisted with hundreds of ITIN requests, and can assist and direct the client toward the necessary documents for each application.
Our firm is licensed by the IRS to assist aliens who are not eligible for an SSN to produce an ITIN, which is also used for filing taxes. As part of this IRS agreement, we are responsible for validating source documents such as: license, passport and birth certificate, without having to forward them to the IRS as well.
An EIN is a 9-digit identification number used for business entities in the US. The first two letters mark the geographic location of the business. An EIN is used for a variety of needs such as opening an account, filing company reports, and other regulatory and bureaucratic needs such as registration.
When applying for an EIN, one must provide the authorities with the type of business, location, reason for issuing and the responsible entity. It is important to know that the responsible entity is the person who controls, manages or dictates the business in terms of its financial manners. Any change requires notification of the IRS within 60 days.
Since the Obama reform, any LLC owned by a single alien requires additional filing. Any LLC owned by aliens, whether one or several, requires an EIN.
