New IRS Law Requires ITIN Renewal, Starting This Year
An Individual Taxpayer Identification Number (ITIN) is a number issued by the IRS to help individuals who cannot obtain a social security number to file their taxes. In the past, a taxpayer applied for and received an ITIN only once. Recent changes to the ITIN program include a requirement that taxpayers renew their ITINs.
The IRS is using a “rolling renewal” schedule for all ITINs, beginning this month. As a result, some taxpayers should renew their ITIN before the end of 2016. Taxpayers with expired ITINs may be ineligible for certain tax credits or face delayed tax refunds.
Learn more about the ITIN renewal process from the IRS website.
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