- January 14, 2019
- Posted by: Asif Rahemtulla
- Categories: Business, Taxes
Welcome to the first Platinum Bookkeeping and Tax blog entry of 2019! This year, we are renewing our commitment to blogging in order to ensure that you are kept up to date on a wide variety of issues that are important to you and your business. Among them are the importance of bookkeeping for your small business, accounting tips and tricks and how to obtain financing to grow your company.
However, with 2019 now underway, it’s important for business owners to be reminded that we are about to embark on a very important part of the year – income tax season. As a Canadian, you do have until the end of April to file your income tax return, however, the filing deadline for United States federal income tax returns for non-residents is on June 15th.
That is, unless you were an employee and received wages subject to U.S. income tax withholding, in which case it is April 15th. If you have any properties or income-based dealings of any kind down south, you’re going to need an ITIN when filing your U.S. tax return.
What is an ITIN?
ITIN stands for individual taxpayer identification number. It is a tax processing number that the Internal Revenue Service issues to those who need U.S. tax numbers and are unable to get a Social Security Number (SSN). This includes Canadian individuals and business owners who have tax filing requirements in the United States.
Always starting with the number 9, your ITIN is a 9-digit number that allows you to properly comply with U.S. tax laws. It would be wise to ensure that you apply for an ITIN when filing your taxes. These numbers can expire if they haven’t been used on a federal tax return in the past three years.
How can we help you obtain an ITIN?
“Your ITIN may expire before you file a tax return in 2019,” the IRS reminds visitors of their website. So, as you may have guessed, time is of the essence. And obtaining an ITIN from the IRS can sometimes be an arduous process.
Platinum Bookkeeping and Tax is a Certified Acceptance Agent that makes the application process a stress-free experience. In order to apply for an ITIN, you must complete a Form W-7 and submit identity documentation. The IRS does not accept copies – they want the genuine article.
Our CAA makes life easy for any non-U.S. resident to obtain an ITIN. Because we’re certified, we can authenticate your identity and documentation for you. We request that you send us your original documents (your passport, for example) instead of shipping them directly to the IRS. With us, you are assured your documents are safely and quickly returned to you. We also provide a certificate of accuracy to the IRS that validates your identity and documents.
We offer help all across Canada.
No matter where in this great nation of ours you are located, the Platinum Bookkeeping and Tax team can help you. We offer a service that is quite hard to find in Canada and we ensure that it is made simple and easy for all of our clients. For more information about obtaining an ITIN, please don’t hesitate to contact us by calling 1-888-675-3528 or by visiting our Contact page and filling out our form!