US Tax 6 | ITINCAA

ITIN vs. EIN vs. SSN: Differences and What You Should Know

by Kader Ameen | Aug 16, 2022 | EIN, ITIN, SSN

EIN – Employer Identification Number ITIN – Individual Tax Identification Number SSN – Social Security Number Employer Identification Number (EIN) An employer identification number (EIN) is a nine-digit number issued by the IRS to identify a business entity. EIN can...

ITIN for Third Party Withholding on Passive Income

by Kader Ameen | Jul 30, 2022 | EIN, IRS, ITIN, US Tax

ITIN For Tax Treaty Benefits Claim [Third Party Withholding on Passive Income] Exceptions to the Tax Return Filing Requirement/How to claim Third-Party Withholding on Passive income Information reporting and withholding requirements apply to third parties [i.e Banks...

ITIN for Foreign Person Wages Salary Compensation and Honoraria Payments with Tax Treaty Benefits Claimed

by Kader Ameen | Jun 23, 2022 | Tax, US Tax

Form 1042-S, Foreign Person’s United States Source Income Subject to Withholding, If a Valid US Tax ID is not provided to US firms distributing the income, the US firm has an obligation to withhold a flat 30% tax on the Gross income distribution. The Federal tax...

ITIN APPLICATION – Who needs to apply for ITIN

by Kader Ameen | Feb 6, 2022 | FIRPTA, ITIN, registration, tax returns, US Tax

ITIN – What is used for ITIN stands for Individual Tax Identification Number which is a U.S Tax Id for Foreign Nationals with US-based income, Similar tax ID examples [National Insurance Number in the United Kingdom, PAN Number in India, etc]. Most Common Categories...

FIRPTA Withholding Tax On Sale Of USA Property – Common FAQ’s

by Kader Ameen | Jan 16, 2021 | FIRPTA

What is FIRPTA? When any foreign person sells is USA-based property, they are subject to the FIRPTA TAX withholding as per the (Foreign Investment in Real Property Tax Act) at the rate of 10% or 15% of the Gross Proceeds by the US Escrow/Selling agent. For example:...

Next Entries »

ITIN vs. EIN vs. SSN: Differences and What You Should Know

ITIN for Third Party Withholding on Passive Income

ITIN for Foreign Person Wages Salary Compensation and Honoraria Payments with Tax Treaty Benefits Claimed

ITIN APPLICATION – Who needs to apply for ITIN

FIRPTA Withholding Tax On Sale Of USA Property – Common FAQ’s

Recent Posts

Which Tax ID Do You Need?

EIN is a BUSINESS Tax ID used to start a business and open a business bank account. You need an EIN if you’re starting a business

ITIN is a PERSONAL Tax ID used to file taxes and open a personal bank account for those who do not have and are not eligible to get an SSN

US PERSONAL TAX are imposed by the federal, most state, and many local governments. The income taxes are determined by applying a tax rate, which may increase as income increases, to taxable income.