Nonetheless, one of the main differences that should be mentioned is that an ITIN is not only associated with resident and non-resident aliens. Any person who submits U.S. tax returns and whose taxpayers have liabilities are provided with ITINs, irrespective of their immigration status.
- The distinction in case of an ITIN loan, the number serves as an identification that can be applied in case there is no opportunity to utilize a Social Security Number.
How to get an ITIN
An application to an ITIN is comparatively easy. An ITIN is available by application; fortunately, the time spent on receiving ITIN is not very long. Moreover, one does not need a Social Security Number when receiving ITIN.
The initial one is filling Form W-7 (Application for IRS Individual: Taxpayer Identification Number). You will also be required to additional the documentation, such as tax returns which will prove that you are a non-resident in the U.S. Tax return is a very important section of the application procedure because that is what the identification number will be attached to and therefore it is important to use your recent filing in the application.
Other documents that you might be required to submit as a part of the application would be identification documents like:
- ID card
- Birth certificate
- Driving license
The greater the identification you can present, the easier the application processing would be. The reason why the form is used is to bind your documents with your identity and match it with the data on your tax declaration and give a number accordingly