Taxpayers to Renew ITINS

As we reach the midpoint of the 2018 year, it is already time to begin thinking about next year’s tax season. Maybe not necessarily in terms of filing, but how about the pieces necessary to file such as ITINs (Individual Taxpayer Identification Numbers)?

When it comes to submitting taxes, avoiding delays and filing with ease is of the utmost importance. In order to take full advantage and avoid delays, the IRS has instructed taxpayers with ITINs with middle digits of 73, 74, 75, 76, 77, 81, or 82 to renew their number even if they received the number in the last three years. The IRS is allowing taxpayers to renew for their entire family at the same time as well. For this reason, the IRS suggests filling out the form as soon as possible.

For an individual or family to request a new ITIN they must fill out a form W-7, Application for IRS Individual Taxpayer Identification Number. Then they will need to mail the form along with all original documentation listed on the form, and work with either a Certified Acceptance Agent or the IRS Taxpayer Assistance Center.

When filing for a renewal individuals are not required to file a tax return as well, they will just need to note the reason for requesting a new ITIN. If you and or someone you know has questions about whether or not you need a new ITIN, contact us at the Center for Financial, Legal & Tax, Inc.