The Internal Revenue Service (IRS) requires all individuals, including foreign nationals, to pay taxes on income earned in the United States. If you are a foreign national who does not have a Social Security Number (SSN) or an Individual Taxpayer Identification Number (ITIN), you must obtain an ITIN to comply with IRS regulations. Applying for…
As a small business or LLC owner in Chicago, managing income taxes can be a daunting task. The tax system is complex, and some many rules and regulations can be difficult to navigate. Filing taxes accurately and on time is crucial to avoid costly penalties and fines. That’s why seeking professional income tax services is…
What is an ITIN? An Individual Taxpayer Identification Number (ITIN) is a tax processing number issued by the Internal Revenue Service. The IRS issues ITINs to individuals who are required to have a U.S. taxpayer identification number but who do not have, and are not eligible to obtain, a Social Security number (SSN) from the Social Security Administration…
Court Authorizes Service of John Doe Summons Seeking the Identities of U.S. Taxpayers Who Have Used Virtual Currency A federal court in the Northern District of California entered an order today authorizing the Internal Revenue Service (IRS) to serve a John Doe summons on Coinbase Inc., seeking information about U.S. taxpayers who conducted transactions in…
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