Sunday, September 30, 2007

Individual Tax Identification Number

It's safe to say that anyone reading this who isn't an illegal resident or knows someone who is doesn't know what an Individual Tax Identification Number (ITIN) is right ? Well no matter what your residence status maybe be here in the states, the government will accept your money whether your from another country or another planet. An ITIN is a number issued by the internal revenue service (IRS) to people who have to pay taxes in some form or another and don't have a social security number. Basically that's what they are a government issued number that allows you to pay taxes if you own your own business or because like most immigrants think, it will help you become a citizen down the line because your paying taxes. Well that has and never will be the case because in the end all the government is concerned about is getting its fair share of a persons profit, legal or not. Wikipedia has it that in 2006 1.4 million people filled taxes with an ITIN, 1.4 million people that's insane in the membrane yo. Yet they're all people who have come to the states with nothing but some clothes and a dream. A dream to be American and to open and own their own store not working for anyone but themselves and their families. I know this because my father has been doing this for as long as I can remember. He may not have always had the ITIN, but in some shape or form he, like all Americans paid taxes. Now this issue of paying taxes has come up in my life many a time, but because I don't make enough money to file taxes so I never really bothered. However having a job changes things, adding to that was the fact that I opened a bank account. This is possible thanks to the Mexican Consulate I.D. card immigrants can attain at the Mexican consulate. To get it you go to the consulate, bring you birth certificate and two forms of I.D. and proof of your current address. From there the card is literally given to you in the span of one to two hours on the spot. I have one of course and the picture of me there was when I was 200 lbs bigger and way ugly looking. The card is a legal government issued I.D. so I'm allowed to go into federal buildings, clubs that have bouncers that know what the card is and use it like you would your regular I.D. Some banks accept the I.D. to open bank accounts and with a combination of the ITIN, take out loans and get credit cards. The cards extent even goes as far as being able to purchase a house and cars. Any who apparently I need an ITIN to keep my back account so the government doesn't take away any of my hard earned money. I can just close the account and forget about it but something interesting came up in deciding what to do, there's a chance I can get back the money I paid for my schooling, which is a considerable amount at $ 250. I'm going to call the IRS and ask what the specific qualifications are and see if I can qualify for the exception that is stated on their website. There would be no real repercussions in doing this because the IRS doesn't disclose information on people with ITINS to the gov so it's all good. Having an ITIN is no big deal but it was something my father always stressed me to get, even if I didn't need it, use it or qualified for it. To him I just had to get it because he figures it'll look good if you pay taxes while still illegal. I still haven't called them up and found out what's the delio or even went to the bank to talk to them, even though I should A.S.A.P. For now I'll just think about the repercussions of having to attain an ITIN will have in my life good and bad. Just think about it, the government will know more about me if I get the ITIN, not that's it's a bad thing, it's just I'm shy like that.