Source-cited explainers on Individuals, in plain English or Spanish, for the individuals and businesses we serve across Miami and beyond.
An ITIN, an SSN, and an EIN answer three different questions. Here is what each 9-digit number does, who is allowed to hold one, when a business needs both a personal number and an EIN, and how the numbers change when you finally receive an SSN.
A minister can exclude a church-owned parsonage, or a cash housing allowance designated in writing before payment, from federal income tax. The exclusion cannot exceed reasonable compensation and does not remove the amount from self-employment tax.
Nonresident aliens with U.S. source income file Form 1040-NR, not Form 1040. Effectively connected income is taxed at graduated rates, FDAP income at a flat 30 percent, and the standard deduction is off the table. Here are the triggers, the due dates, and the traps.
Eligibility for the Earned Income Tax Credit turns on earned income, a valid Social Security number by your return due date, and investment income of $11,950 or less. For tax year 2025 the credit reaches $8,046 with three or more qualifying children.
Trump Accounts are traditional IRAs opened for children. Treasury makes a one-time $1,000 pilot contribution for an eligible child born in calendar year 2025, 2026, 2027, or 2028. Here is who qualifies and how the election works.
An ITIN lets a non-resident or immigrant file U.S. federal taxes without a Social Security number. Here is who qualifies, what the Form W-7 package has to carry, how long the IRS takes, and what an ITIN will never do for you.
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