Hi all,
I was wondering if someone could help with a specific question I have regarding setting up my ITIN application.
I understand the majority of the form except for the first question "Reason you are submitting form W-7".
I have no US property or assets. If anyone is in a similar situation and has previously applied any help would be greatly appreciated! The link to the form & question can be found here http://www.irs.gov/pub/irs-pdf/fw7.pdf
Cheers
I believe it is sufficient to select "h", and state you wish to purchase tax liens and/or property. I'mm 99% sure that's what we put when we completed this process in the tax lien training.
Great, thanks for your help!
My wife and I have an LLC that then owns 3 properties via LLCs. Attempting to get an ITIN from Australia is a challenge!!!
The LLCs all have the EIN but as individuals we cannot obtain a credit card or easily move funds out of the US banking system without the ITIN. We have Visa debit cards issued by Wells Fargo but these cannot be used for some services that we want to charge back to the LLC as operation costs.Has anyone lodged locally in Aus with all documents certified in Australia?
Anyone with ideas as the Australian passports and other docs must be certified by Australian authorities BEFORE lodging via an accredited agent for IRS.
We are in South Australia and no joy yet with a local US/Aus tax service that can solve some of these setup issues at reasonble price/hardship…
Tassie,
We just went through quite a hassle with an Australian friend of mine who came into Detroit to buy properties. It was like pulling teeth to get his corporate structure setup!
DetroitDan9 wrote:Tassie, We just went through quite a hassle with an Australian friend of mine who came into Detroit to buy properties. It was like pulling teeth to get his corporate structure setup!Detroit Dan…..you are not inspiring me
I believe our ducks/ docs are now in a row to start the official W-7 ITIN process
.We are sending over the following within Australia
Passports to be notorized by US Consulate in Melbourne at $50AUD ea
Copies of Bank forms with our LLC details and requesting our signatures supporting the EIN info
Exemption to request based on business/banking requirementsFollowing receipt of US authority notorization we can then send the same set of papers…but with blessed identities…to the IRS.
In 6-8 weeks I will find out success or failure
TassieJH wrote:My wife and I have an LLC that then owns 3 properties via LLCs. Attempting to get an ITIN from Australia is a challenge!!!
The LLCs all have the EIN but as individuals we cannot obtain a credit card or easily move funds out of the US banking system without the ITIN. We have Visa debit cards issued by Wells Fargo but these cannot be used for some services that we want to charge back to the LLC as operation costs.Has anyone lodged locally in Aus with all documents certified in Australia?
Anyone with ideas as the Australian passports and other docs must be certified by Australian authorities BEFORE lodging via an accredited agent for IRS.
We are in South Australia and no joy yet with a local US/Aus tax service that can solve some of these setup issues at reasonble price/hardship…
I got my ITIN when I attended Steve McKnight's Tax Liens seminar about 12 months, Tommy Senatore who was a US guest speaker signed off and processed these for all who attended the course. I had no idea at the time that this was difficult to obtain.
Cheers, Marisa
Tassie,
I do not mean to discourage at all! It is very possible to get an ITIN – it just takes a while, it was a learning process for me. I do not specialize in setting up corporate structures, That is why there are accountants and lawyers! My expertise is in getting people great property deals in the Detroit area!
TassieJH wrote:DetroitDan9 wrote:Tassie, We just went through quite a hassle with an Australian friend of mine who came into Detroit to buy properties. It was like pulling teeth to get his corporate structure setup!Detroit Dan…..you are not inspiring me
I believe our ducks/ docs are now in a row to start the official W-7 ITIN process
.We are sending over the following within Australia
Passports to be notorized by US Consulate in Melbourne at $50AUD ea
Copies of Bank forms with our LLC details and requesting our signatures supporting the EIN info
Exemption to request based on business/banking requirementsFollowing receipt of US authority notorization we can then send the same set of papers…but with blessed identities…to the IRS.
In 6-8 weeks I will find out success or failure
Hi TASSIE JH,
Good work. But if you still find trouble, please contact us, we can help you for ITIN or EIN etc from Australia.
Hello,
Yes, it can be done through a number of ways. I have a contact who assists Australians with this – LLC set up and EIN, ITIN apps. I have just done my ITIN application and expect news from IRS soon. I also have an Australian accountant who does US/Australian tax returns.
I can be contacted on [email protected]
Sparky59
TassieJH wrote:I believe our ducks/ docs are now in a row to start the official W-7 ITIN process.We are sending over the following within Australia
Passports to be notorized by US Consulate in Melbourne at $50AUD ea
Copies of Bank forms with our LLC details and requesting our signatures supporting the EIN info
Exemption to request based on business/banking requirementsFollowing receipt of US authority notorization we can then send the same set of papers…but with blessed identities…to the IRS.
In 6-8 weeks I will find out success or failure
Our ITINs have arrived
but as for IRS data entry ……..
My lovely certificate has my "official address" listed incorrectly. My street name starts with a "G" and on the certificate it starts with an "F"…..one key over!
My wife's certificate is made out as her maiden name….not married name as per all the paperwork including the Notoraised passport copy!
At least we have the numbers to quote now
I believe that if you have a LLC set up, you can enquire online with the IRS about applying for an ITIN so you can pay tax.
Or call with the same question, how do I apply for an ITIN so I can pay tax on my LLC income.A LLC is a bit like a Family Trust, in that it is a "pass through" entity.
ie you don't pay tax from your LLC directly, but the beneficiaries of the LLC do as individuals.I hope this helps.
I bought two properties in the US in Nov 2010, but they rejected my ITIN application because the properties werent rented by 31 Dec so I hadn't earned any US income in the 2010 fiscal year.
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