
Are You Concerned About How to Renew Your ITIN Number? | Consider the Procedure
The ITIN holders who are required to file their tax returns would be required to renew their ITINs. The rest may not be interested in renewing it anyway but if you are one of those people who are required to file tax returns, then you may be asking as to how to renew your ITIN number. If you want to learn the core of the question, you need to read the following procedure carefully.
The IRS has declared that the renewing procedure has begun as of October 1st 2016. ITIN holders who wish to renew their ITINs have expired because they did not use it for 3 consecutive years need to follow almost the same procedure which they did when they obtained an ITIN the first time.
- Firstly, they would need to complete Form W-7 properly.
- Also, they need to fill the application at the IRS to get an ITIN
- Attach all the documents required to obtain an ITIN.
- You must remember to use the latest version of Form W-7 which will be readily available to you at the time of renewal (available from September 2016).
- After filling the form, you must ensure to submit it via mail using one of the IRS authorized Certified Acceptance Agents or making a call or an appointment with the IRS Taxpayer Assistance Center.
Do You Really Need an ITIN Renewal?
If you are asking about how to renew your ITIN number, you should also know whether or not you really need it. You would need renewal of an ITIN in 2 cases. Check them below.
· Expired ITINs
The ITINs which were issued to individuals before 2013 will begin expiring this year. Taxpayers would need to renew them on a rolling basis. Those ITINs which begin with the middle digits of 78 and 79 will expire first in the schedule. The renewal period for the ITINs has begun as of October 1st 2016.
The IRS has sent the letters to these taxpayers in August to inform them beforehand that their ITINs require renewal. If they need to file tax returns, they first have to get their ITIN numbers renewed. The ITINs which do not have middle digits of 78 and 79, their renewal schedule will be announced at a future date.
· Unused ITINs
The ITINs that have not been used in the last 3 years in a row, from 2013 to 2015, will no longer be in effect for tax filing as of January 1st 2017. ITIN holders in this group will be required to file tax returns the next year to renew their ITIN.
Now that you have got to know of the ins and outs of an ITIN and the answer of how to renew your ITIN number, we hope you will be able to get through the renewal process seamlessly. If you still feel difficulty, we recommend you hire a local lawyer for a smooth ITIN renewal process. Good luck!
If you would like our help in renewing your ITIN number, please go to www.itinnumberonline.com
Source: http://www.itinnumberonline.com/how-to-renew-my-itin-number/
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