Does Your ITIN Expire This Year? Renew It to Avoid Refund Delays
If your ITIN expires this year, or if it already expired, you should renew it as soon as possible to avoid unnecessary refund delays when you file your tax return next year.
Read on to discover what ITIN stands for, what ITINs expire this year, and how to renew this important identification number.
What Is an ITIN?
It’s worth remembering that ITIN stands for Individual Taxpayer Identification Number. This is a 9-digit number that the Internal Revenue Service (IRS) assigns to those taxpayers who don’t qualify for a Social Security Number (SSN) but need an identification number for tax purposes.
What ITINs Expire in 2020?
The following ITINs expire on December 31, 2020. They must be renewed to avoid delays in your tax refund next year:
- ITINs with middle digits 88
- Those with middle digits 90, 91, 92, 94, 95, 96, 97, 98 or 99, if assigned before 2013 and if not already renewed
How to Renew an ITIN
To renew your ITIN, fill out Form W-7 and submit all required documentation. When you submit the form you are not required to attach a tax return, but you must indicate the reason why you need an ITIN.
Later this summer the IRS will send notices to people whose ITIN expires this year. The notices include instructions about how to renew the ITIN. If your ITIN expired already and you expect to file a tax return in 2021, you can renew your ITIN any time.
If you receive a renewal letter, you have the option of renewing ITINs for your entire family at the same time. This includes the tax filer, spouse, and any dependents claimed on the tax return.
Avoid These Common Mistakes When Renewing Your ITIN
These are some common mistakes people make when they renew their ITIN. Avoid them to ensure that the process is as agile and fast as possible.
- Mailing identification documentation without a Form W-7
- Missing information on the Form W-7
- Insufficient supporting documentation, such as proof of U.S. residency or documents that support name changes.
Contact the Experts at JT Tax Services
Looking for expert, dependable advice on taxes? At JT Tax Services we have the experience, the knowledge, and the drive to assist you. With our advice, you can file your taxes with the peace of mind that comes with knowing that you are limiting your liability while staying compliant with federal and state tax regulations.