For the purpose of filing and reporting taxes in the United States, both individuals and businesses must first get a Tax Identification Number (TIN). The Social Security Number (SSN), Employer Identification Number (EIN), and Individual Taxpayer Identification Number (ITIN) are the three most used forms of TINs. An updated summary of the procedures for applying for each of these TINs in 2024 may be found in this guide.
KEYPOINTS:
-
Together with your tax return, fill out Form W-7, Application for IRS Individual Taxpayer Identification Number (ITIN).
-
Speak with a Certifying Acceptance Agent accredited by the IRS.
-
Schedule a meeting with the Taxpayer Assistance Centre of the IRS.
SSN, or Social Security Number
- An SSN: What is it?
For the purpose of tracking income and benefits, U.S. citizens, permanent residents, and some temporary residents are assigned a nine-digit number called an SSN.
- Procedure for SSN Application Eligibility:
Issued mostly to citizens and permanent residents of the United States. Applications are also open to non-citizens with Department of Homeland Security (DHS) authorization to work in the United States.
- Application Document:
- Fill out Form SS-5, Social Security Card Application. The Social Security Administration (SSA) website and local SSA offices both have this form available.
- Documents in Support: Present original documentation attesting to your identity, age, and citizenship or legal immigration status in the United States. A US passport, a US birth certificate, or a DHS employment authorization paperwork are examples of common documents.
- Submission: Mail the completed form and supporting documentation to the SSA office in your community, or drop by the office in person.
- Processing Time: You should receive your SSN card between two and four weeks after the application is processed.
Number for Employer Identification (EIN)
- An EIN: What is it?
The IRS assigns firms a nine-digit number for tax purposes called an EIN. A Federal Tax Identification Number is another name for it.
- How to Apply for an EIN Eligibility: An EIN may be obtained by any type of business entity, including corporations, partnerships, limited liability companies (LLCs), and sole proprietorships.
- Techniques of Application:
- Internet: Using the IRS website to submit an online application is the quickest way to obtain an EIN. Businesses with their primary place of business situated in the United States or its territories can access the online application.
- Through mail or fax: Fill out Application for Employer Identification Number, Form SS-4, and send it to the IRS by mail or fax.
- Via Phone: Applicants from overseas can reach the IRS at +1 (267) 941-1099.
- Processing time:
- Online Processing Time: EIN issuing immediately.
- Mail: Four weeks or so.
- Four business days by fax.
The ITIN, or Individual Taxpayer Identification Number
- An ITIN: What is it?
For those who do not have or are not qualified to get a Social Security number (SSN), the IRS issues an Individual Taxpayer Identification Number (ITIN), which is a nine-digit number.
- How to Determine Your Eligibility for an ITIN?
Relatives or spouses of U.S. citizens or resident aliens who do not qualify for an SSN, as well as nonresident aliens and resident aliens (based on days present in the country).
- Application Document:
- Fill out IRS Form W-7, Individual Taxpayer Identification Number Application.
- Documents in Support: To demonstrate your identification and foreign status, present original documentation or certified copies from the issuing organisation. National ID cards, passports, and U.S. visas are examples of common documents.
- Send in:
- Through Mail: Provide supporting documentation and Form W-7 to the IRS address provided in the instructions.
- In Person: Apply in person at one of the designated IRS Taxpayer Assistance Centres (TACs) or via a Certifying Acceptance Agent (CAA) who has been authorised by the IRS.
- With the help of an IRS Acceptance Agent (CAA), you may expedite the application process and documents.
- Processing Time
- Generally, 7 weeks for applications submitted from within the U.S.
- Additional time may be required for international applications.
Important Factors to Take Into Account for 2024’s Increased Security
- To stop fraud and identity theft, the IRS has added extra verification procedures to all TIN applications. Make sure that all papers and paperwork are correctly filled out and sent in.
- Online Applications: For quicker processing times, use online application techniques whenever available.
- Help and Encouragement: If you run into any problems with the application procedure, visit the IRS website or speak with a tax expert for advice.
In conclusion, in order to comply with U.S. tax requirements, it is imperative that you obtain the necessary TIN. Both individuals and corporations can effectively secure their SSN, EIN, or ITIN by adhering to the new requirements for 2024.
