Do you want to know when your ITIN will expire?
For those not eligible for Social Security Numbers, the IRS issues Individual Taxpayer Identification Numbers (ITIN). ITIN allows individuals comply with the U.S. tax laws and avoid harsh penalties.
Per IR-2014-76, Individual Taxpayer Identification Numbers (ITINs) will expire if not used on a federal income tax return for five consecutive years. The new policy applies to any ITIN, regardless of when it was issued. The IRS will not begin deactivating ITINs until 2016.
If you have a foreign partner or foreign shareholder in your firm, you may need to pay a withholding tax on that partner or shareholder. A foreign partner or hsareholder is required to file a U.S. income tax return even if there is no U.S. tax due. A valid Taxpayer Identification Number (TIN) or International Taxpayer Identification Number (ITIN) is required.
Book your FREE phone consultation today with a Trusted Tax Advisor at Capital Protection Alliance at http://capitalproalliance.com/helpstep1_business_services/ about ITIN issues and IRS audit help,