Your Financial & Investment Adviser in Cambridge, Boston
Your Financial & Investment Adviser in Cambridge, Boston
ITIN stands for Individual Tax Identification Number. When you are filing a US tax return online, if you have a dependent who does not have a Social Security Number, IRS will point you to fill out a W7 form and apply for an ITIN number. If you are overseas, you are encouraged to make an appointment with the nearest USA consulate and use it in person.
IRS requires that you submit your original passport and other identification and wait for them to approve your ITIN application. The good thing is that IRS offers this service fee. The bad thing is that you trust IRS and let them hold on to your original documents and wait to receive them sometime in the future by mail.
We are Certified Acceptance Agent, which means you can show the original documents to us, and we can make a copy of them and certify them so that you don't have to mail any original passports to the IRS.
So we save you some time and convenience. In some cities, IRS has offices that will also provide the same service. They are not easy to make an appointment at, and they can get very picky on what documents they accept. But Working directly with IRS is free, bring over lots of patience.
You can also google and find some tax offices offering this service for free. Be careful of anything provided free in the USA. They usually provide ITIN applications for free as long as you also file your taxes with that firm. They typically charge $200 to $300 for simple tax returns. They may offer free coffee and candy.
We charge $75 for the ITIN processing and filing of a simple US 1040 tax return. ITIN processing requires a tax return to be already prepared and sent with the application. We charge more depending on the complexity of the tax return. If your tax return is too complicated, we recommend filing a simple estimated tax return with your ITIN application. We have found that complex returns cause the ITIN processing area to find reasons to reject your application outright.
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