According to the Internal Revenue Service (IRS), about 2 million Individual Taxpayer Identification Numbers (ITIN) will expire at the end of this year. The ITIN must be renewed if one of the following two criteria is met:
- The ITIN has not been used on any tax filing for 2016, 2017, or 2018
- The ITIN contains middle digits of 83, 84, 85 ,86, or 87 (9xx-83-xxxx and 9xx-84-xxxx, etc.)
The IRS is sending a notice CP48 to all affected taxpayers, but don’t wait until the last minute for this notice. Renewal of the ITIN is done on form W-7, which is then submitted to the IRS either by mail or to a walk-in IRS office. Alternatively, you can use an IRS certified acceptance agent to assist you. Such agents are able to review your documentation without having to send the originals to the IRS. Failure to renew an ITIN in sufficient time prior to a tax return filing will result in refund delays and loss of various tax credits, until the ITIN is re-established.
For questions on this or other tax-related matters, please contact Larry Rubin, Aronson’s tax controversy lead partner and an IRS-certified acceptance agent, at 301.231.6200.