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- Reminder: August 31 Deadline for RMD Actions
- 2020 Required Minimum Distributions May be Rolled Back into Accounts through August 31st
- SBA Issues Guidance for Self-Employed Individuals Applying for Paycheck Protection Loans
An Individual Taxpayer Identification Number (ITIN) is a tax processing number issued by the Internal Revenue Service. The IRS issues ITINs to individuals who are required to have a U.S. taxpayer identification number but who do not have, and are not eligible to obtain, a Social Security number (SSN) from the Social Security Administration (SSA).Your ITIN is no longer valid if it was not used on a federal tax return at least once in the past three years. If you will be filing for 2016, the IRS is recommending that you submit a renewal application along with your federal return to prevent delays in receiving any refunds. If you use an expired ITIN when filing, your return will be processed, but it will be processed without any exemptions and/or credits claimed. Also, you may be subject to interest and penalties for any tax owed as a result of disallowed exemptions and credits. You can renew or apply for an ITIN by downloading Form W-7 (Application for IRS Individual Taxpayer Identification number) from www.irs.gov.
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