What is an ITIN?

For its acronym in English, the personal taxpayer identification number (ITIN) is a tax
processing number issued by the Internal Revenue Service, The IRS is responsible for
issuing ITINs to people who require it in the United States, but do not have and are not
eligible to obtain a social security number (SSN).
The IRS issues ITINs to help people comply with United States tax laws and to provide
people who qualify for a Social Security number with an efficient way to process and
account for their tax returns. taxes and payments. It is issued regardless of immigration
status as resident or non-resident aliens may be required to file a United States tax return
or information return under the Internal Revenue Code.
If you already have an ITIN, it allows you to do the following:

CREATE A COMPANY:

This allows sub-contracting personnel who also have this document, otherwise they must
declare it as an expense in their accounting, an act that is not legally appropriate.

BUY CARS WITH LESS INTEREST:

Having an ITIN allows you to obtain more convenient monthly payments with lower
interest.

CREDIT HISTORY:

A good credit in the United States allows access to financial opportunities, with the ITIN
build your history and obtain credit benefits.

BUY A HOUSE:

To have your own house you need the ITIN

Companies you can form:

LLC (Limited Liability Company or Limited Liability Company:
It is recommended for sole proprietor businesses or starting their business

S-Corporation:

Recommended for medium-sized companies or in search of expansion when their sales
grow.

PARTNERSHIP:

Recommended when there is one or more partners but only one represents it before
federal and state institutions

Corporation:

Recommended for large companies, the tax rate is 21%
Document drafted by Regio Management® for the financial window in Orland