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NET ASSETS & ASSOCIATES
ITIN
What is an ITIN and why is it important?
The ITIN (Individual Taxpayer Identification Number) is a number issued by the IRS for individuals who need to file taxes in the U.S. but do not have a Social Security number. It is essential for fulfilling tax obligations, opening bank accounts, and establishing a commercial identity history, although it does not authorize work or provide Social Security benefits.
(NOTE: To obtain a new ITIN number, the request must be accompanied by a tax declaration).
Why is it important to have an ITIN? It is important because: -It allows compliance with U.S. tax laws, regardless of immigration status. -It helps establish a commercial identity history, which can be beneficial for future procedures. -It enables opening bank accounts at certain banks. -It allows claiming eligible tax credits.
WHAT DO I NEED TO GET MY ITIN?
Identification Documents
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Passport: You can present your passport.
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Other Options:
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Two of the following documents:
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National identification document (with photo)
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United States driver's license
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Foreign driver's license
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Birth certificate (for dependents, unless a passport is presented)
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United States state ID
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Foreign voter registration card
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Visa issued by the United States Department of State
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U.S. or foreign military ID card
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United States Citizenship and Immigration Services photo ID
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Medical records (for dependents under 6 years old)
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School records (for dependent students under 18 years old)