An ITIN is a tax processing nine-digit number issued by the Internal Revenue Service to help immigrants comply with US tax laws and provide the means to effectively process and account for tax returns and payments from those who do not qualify for a Social Security Number.
Individuals use this number as a legal identity card to open an interest-bearing bank account, securing a driver's license, apply for a home mortgage loan also sign up for a particular health plan and insurance. However, it is not business or the company's tax identification number and does not serve a license to work. However, you can also get your business itin services via https://taxpa.com/services/itin-services/
Since ITIN in line with the tax preparation business, both the resident and a nonresident foreign individual can get an ITIN but must have a filing requirement and file a valid income tax return. These cases may include:
• Non-resident foreign nationals who have a business or invest in the US and received a taxable income of the business, but in other countries.
• A foreign student or scholar who is willing to apply for scholarships and allowances and have qualified as a US resident.
• Dependent or spouse of a US citizen or resident alien
• Dependent or spouse of a nonresident alien visa holder