I was listening to my continuing education webinar this morning and I heard something very important that I have not yet heard anywhere else. ITIN's will now have to be renewed on a regular basis. Anybody that has an ITIN that was issued before 2013 (will have a 78 or 79 as the middle section two digits) must renew their ITIN this year and anybody that has had an ITIN that was issued in 2013 or later but not used on a 2013, 2014 or 2015 tax return will also need to renew it. If this applies to you please follow up on this as getting a new ITIN issued if your old one is cancelled is a bit of a pain.
4/22/2018 09:51:30 pm
Actually, an Individual Taxpayer Identification Number is a United States tax processing number issued by the Internal Revenue Service. I am also excited to open an ITIN. It`s really important for my business and other work.
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Laurie Yoon, C.P.A., C.A.
My practice has evolved over the years to be almost entirely personal tax, and I specialize in people with cross border personal tax issues.