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Expiring ITINS are Advised to Renew before January 1, 2017

Expiring ITINS are Advised to Renew

The Internal Revenue Service urged those with expiring Individual Tax Identification Number (ITIN) to apply for a renewal before tax filing season to avoid delays in refund processing. The ITINs are issued to taxpayers who are not eligible for a Social Security Number (SSN). Recent law amendment sets January 1, 2017 as the expiration date of ITINs not used on a tax return in the past three years. In addition, the tax agency said that all “ITIN with middle digits of either 78 or 79 (9NN-78-NNNN or 9NN-79-NNNN) will also expire on that date.”

Those who fail to apply for renewal should expect for delays in refund or possible disqualification for some tax benefits. Application for renewal filed before the year ends will be processed faster than those who while file in January and February. The 11-week processing duration is expected to lengthen during the height of tax season.

The IRS applicants must be sure to use the latest version of Form W-7 (September 2016) and to follow the instructions carefully to avoid inconvenience.
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