Have you ever worked on websites like eBay or Amazon? Do you want to open a U.S. bank account in dollars to benefit from the best banking services? Would you like to have a PayPal or US Stripe account?
In this article, we will explain in more detail the ITIN and the services it offers. We will also show you the easiest way for individuals to get their own ITIN.
Take a cup of coffee and start reading this article now.
What is an ITIN?
The U.S. Individual Taxpayer Identification Number (ITIN) is similar to the Social Security Number (SSN) used by Americans. It serves the same objective and has 9 digits, like an SSN.
The ITIN is intended for non-residents in the United States who cannot obtain a social security number. The U.S. government uses the ITIN to determine the tax status of the owner, especially if he is not a citizen of the United States.
What benefits can you get from ITIN?
You will benefit from many benefits after obtaining a U.S. Individual Taxpayer Identification Number (ITIN), including:
- Create an American bank account and credit card: Many freelancers face a major problem opening a dollar bank account, because banks require proof of income and individual documents, which does not correspond to the nature of freelance work. This is where ITIN intervenes to help you open an American account.
- Issue certain documents, such as a driver’s license in some U.S. states: You can obtain a driver’s license in a number of U.S. states using ITIN.
- Reduce the percentage that Amazon deducts from your profits: You have probably heard of Amazon FBA, and the fact that it is one of the best ways to make money online in recent years. Amazon usually deducts 30% of your profits, but with an ITIN, you can significantly reduce this cut from Amazon, and you also need it for similar reasons as eBay.
- Obtaining various types of loans from American banks: By using ITIN, you can apply for various types of loans from American banks, such as ITIN mortgage.
- Creating a U.S. PayPal account: If you want to open a PayPal account and do not have an U.S. social security number, it is impossible to open an account without an individual ITIN tax identification number.
- Creating an American Stripe account: Just as we talked about the American PayPal account that will be very useful to you, Stripe may also ask you to enter your SSN or ITIN.
- Obtaining an EIN: This is a tax identification number for companies and companies, which can be useful if you have a company operating in the United States.
The easiest way to obtain an ITIN number
There are several ways to obtain an ITIN. The most important are:
- Get an ITIN from the U.S. Embassy in your country.
- Obtain an ITIN from the IRS (Internal Revenue Service), which is a U.S. Treasury Department, through its authorized agents.
The first method – which we will not discuss in detail – is the most difficult and longest, and has the lowest acceptance rate on the first attempt.
You will have to go to the embassy yourself and fill out many documents – which will require the help of a specialist or a lawyer to master the complexity – in addition to obtaining several seals from government agencies, that is, to deal with the bureaucracy of government agencies.
For this reason, I think that the first method is not at all practical, and represents only a waste of time, effort and money compared to the second method.
The second method is entirely online and allows you to obtain an ITIN number while sitting at home while specialists complete all the tasks and paperwork for you.
To get your ITIN, all you need to do is send them your clear papers, and they will do everything for you and make sure you get your ITIN as soon as possible.
