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19 August 2016

Law firm clients: New IRS guidance for taxpayers affected by ITIN changes of interest to law firms — Renewals begin October 2016

On August 4, 2016, the IRS released guidance to help taxpayers comply with changes to the Individual Taxpayer Identification Number (ITIN) program enacted in December 2015. An ITIN is used by taxpayers who are not eligible for a social security number, but who need to file a US tax return. The changes require some taxpayers to renew their ITINs beginning in October 2016. ITINs that have not been used on a federal tax return at least once in the last three years will no longer be valid for use on a tax return unless renewed by the taxpayer. In addition, ITINs issued prior to 2013 will need to be renewed according to a phased-in schedule. For details, see Tax Alert 2016-1422.

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Contact Information
For additional information concerning this Alert, please contact:
 
Law Firm Industry practice
• Shelby Saad-Callahan(617) 375-1237
• Pankaj Khosla(212) 773-3226

Document ID: 2016-1434

 

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