Finance Questions? Ask a Financial Expert for Answers ASAP
THe reason you need the tax ID number is XXXXX selling property is a taxable event
Buying the property gave you a tax basis
but now that you are selling?
you will need to report the gain (difference betwen sales price and your basis, and pay the associated tax
property already sold 18 month ago
escrow hold me 10% since i am not US Citizen
let me show you a link
to be summary
my enlgish not good
do i need a tax id?
Yes, you will need to do a Non-resident tax form to report the gains
That bullet point describes one of the situations where a return must be filed
when i sell the property i should have the tax iD already right?
and one cannot file a return without this tax ID number
We;; you will need to report the sale FOR the year in which it occurred
so i can buy and sell property but when coming to sell, then i need to get tax id to report whether gain or loss right
So what calendar year?
18 month ago
can we get the tax id online?
my accountant told me i must do it in person
I think he probably meant it can't be done online
however, it can be done through the mail
let me get the form for you
my accountant mail many time got rejects so told me go in person
does this make sence
Instructions for Form W-7 (HTML)
that certainly would help to make things more efficient
they can tell you right there what's needed and whether the form is complete
you can send in the return for the year you aodl ALONG WITH the W-7
what are reason IRS will not issue tax ID
fo go apply for the Tax ID first
then send in the return
i do not understand can u repeat
insufficient identification is probably the main one .... let me look at the table for a minute
Proving your "foreign status" or “identity.” If you submit an original valid passport (or a certified copy from the issuing agency), you do not need to submit any other documents to prove your “foreign status” or “identity.” Otherwise, you must submit at least two of the documents listed in the chart below. The documents must be current*, verify your identity (that is, contain your name), and support your claim of foreign status. At least one document must contain your photograph, but a photograph is not required if documents are submitted for a dependent under age 14 (under age 18 if a student). Do not attach expired documents.
This is all in the instructions that I linked for you above ... but here's the chart of things you can use
well, first .... DO you have a passport?
then you will be fine
I thing, especially if your english is not good, you will have better luck applying inperson
They can help you with te form ... just be sure to tak the passport
Can your acc**tant have yu return ready?
i think so
here are the things that are needed:
Your application must include all of the following.
If you submit a Form W-7, all later ITIN notices and correspondence that you receive will be in English. If you prefer to receive them in Spanish, please submit Form W-7(SP).
Your completed Form W-7.
Your original, valid tax return(s) for which the ITIN is needed. Attach Form W-7 to the front of your tax return. If you are applying for more than one ITIN for the same tax return (such as for a spouse or dependent(s)), attach all Forms W-7 to the same tax return. After your Form W-7 has been processed, the IRS will assign an ITIN to the return and process the return.
The original documents, or certified copies of these documents from the issuing agency, that support the information provided on the Form W-7. The supporting documentation must be consistent with the applicant's information provided on Form W-7. For example, the name, date of birth, and country(ies) of citizenship must be the same as on Form W-7, lines 1a, 4, and 6a.
You can submit copies of original documents if you do any of the following.
Have the copies certified by the issuing agency.
Have the officers at U.S. Embassies and Consulates overseas provide certification and authentication services. Contact the Consular Section, American Citizens Services of the U.S. embassy or consulate in advance to determine the hours of operation for these services.
Now, here are the two ways you can apply in person
Through acceptance agent. You also can apply through an acceptance agent authorized by the IRS. An acceptance agent can help you complete and file Form W-7. To get a list of agents, visit IRS.gov and enter “ acceptance agent program ” in the search box at the top of the page.
but most list of agents, unless i let them do my tax they are not willing to just apply the tax id for me
Ican look up the closes acceptance center if you like
yes chino hills, ca
as long as you have the taxes prepared when you go to the IRS office along with your valid passport you should be find from there
but is that true they only will apply iD for me if i am their clients in account to file tax
ok just a sec
not if you go to an IRS assistance center
Here are the California Offices:
so if i go to assistant center they can help me so i do not need to go to IRS office
These ARE IRS offices, but for the purpose of prividing assistance in getting things done for you
is this office iRS also
the assistance centers?
so going here will be same as IRS office
yes they are sponsored by IRS ... they are not IRS field offices ... they are offices open to the public for providing services such as helping you apply for the w-7
IRS TAXPAYER ASSISTANCE Center
Is IRS TAXPAYER ASSISTANCE Center free service?
You know, I;ve always assumed so ... let me check
this is from that list of free services:
Taxpayer Assistance Centers
IRS Taxpayer Assistance Centers are available to taxpayers who believe their personal tax issues cannot be handled online or by phone, and who need face-to-face assistance. IRS representatives can help with inquiries, adjustments, letters and notices and payment plans for those who owe taxes and cannot pay in full. Locations are posted by state on IRS.gov under the ”Individuals“ tab by clicking on the Contact My Local Office link. A message detailing operating hours and addresses is also available by calling the number in local phone directories.
All IRS Taxpayer Assistance Centers provide help to non-English-speaking taxpayers through an interpreter service.
So ... yes
thank you so much
you are very welcome
I think they are exactly what you need
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