CLE: Everything You Need to Know About the NEW Individual Taxpayer Identification Number (ITIN) Renewal Process
CLE: Everything You Need to Know About the NEW Individual Taxpayer Identification Number (ITIN) Renewal Process
Pending 2 CLE credits
The Protecting Americans from Tax Hikes Act of 2015 (the PATH Act), enacted on December 18, 2015, among other provisions requires many millions of taxpayers to renew their individual Taxpayer Identification Numbers (ITINs) over the next several years. ITIN holders are taxpayers who do not qualify for a Social Security Number. Prior to the PATH Act, ITINs, like Social Security Numbers, were issued after a qualifying application without an expiration date. ITINs do not authorize work and are issued only to individuals with a tax filing obligation.
Under Section 203(a) of the PATH Act, codified in Section 6109(i)(3), ITINs issued before 2013 are set to expire over several years beginning on January 1, 2017, and ending on January 1, 2020. In addition, ITINs that are not used on a federal income tax return for three consecutive years will expire on the first day of the next calendar year. Consistent with the PATH Act, the Service deactivated 12.4 million ITINs as of January 2017. Filing tax returns with expired ITINs can lead to delays in the issuance of refunds to which taxpayers are entitled and could even result in tax liabilities for which taxpayers would not otherwise be liable.
Please join us to learn how to better serve this population of taxpayers who are disproportionately lower-income and unfortunately burdened by this time-consuming and potentially expensive renewal process.
CLE: Everything You Need to Know About the NEW Individual Taxpayer Identification Number (ITIN) Renewal Process
Pending 2 CLE credits
The Protecting Americans from Tax Hikes Act of 2015 (the PATH Act), enacted on December 18, 2015, among other provisions requires many millions of taxpayers to renew their individual Taxpayer Identification Numbers (ITINs) over the next several years. ITIN holders are taxpayers who do not qualify for a Social Security Number. Prior to the PATH Act, ITINs, like Social Security Numbers, were issued after a qualifying application without an expiration date. ITINs do not authorize work and are issued only to individuals with a tax filing obligation.
Under Section 203(a) of the PATH Act, codified in Section 6109(i)(3), ITINs issued before 2013 are set to expire over several years beginning on January 1, 2017, and ending on January 1, 2020. In addition, ITINs that are not used on a federal income tax return for three consecutive years will expire on the first day of the next calendar year. Consistent with the PATH Act, the Service deactivated 12.4 million ITINs as of January 2017. Filing tax returns with expired ITINs can lead to delays in the issuance of refunds to which taxpayers are entitled and could even result in tax liabilities for which taxpayers would not otherwise be liable.
Please join us to learn how to better serve this population of taxpayers who are disproportionately lower-income and unfortunately burdened by this time-consuming and potentially expensive renewal process.