Denver, Colo. – Taxpayers may be unaware that they need to renew Individual Taxpayer Identification Numbers (ITINs)--and they are at risk of tax refund delays in 2018 as a result. 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. Recent changes to the ITIN program include a requirement that taxpayers renew their ITINs for the first time.
In the past, a taxpayer applied for and received an ITIN only once. These changes will require every ITIN holder to eventually renew based on when their ITIN was issued. The IRS is currently accepting renewals of expiring ITINs, and taxpayers who expect to use their ITINs in 2018 are encouraged to renew immediately.
Certain ITINs have already expired as of January 1, 2017. These include ITINs with middle digits of 78 and 79 (Ex: 9XX-78-XXXX) expired as of January 1, 2017, and ITINs with middle digits of 70,71,72 and 80 are set to expire on January 1, 2018. All ITINs that have not been used on a federal tax return at least once in the last three years will also expire at the end of the year. Taxpayers with expired ITINs may be ineligible for certain tax credits, such as the Child Tax Credit, and face delayed tax refunds.
Tax Form W-7 and any other required attachments are needed for renewal. Form W-7 is available in English and Spanish. The IRS is now accepting renewal applications. Taxpayers with expired or expiring ITINS are encouraged to apply early to avoid refund delays.
Learn more about the ITIN renewal process from the IRS website. Download educational materials about the ITIN renewal by visiting Tax Help Colorado’s website.
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