What Is A Certifying Acceptance Agent?
A certifying acceptance agent is able to make your application for an ITIN. An ITIN is an Individual Tax Identification Number. In order to become an acceptance agent, a person requires specific training and approval the Internal Revenue Service (IRS) in the United States. The certifying acceptance agents at Kahane Law Office in Calgary have contract with the IRS acceptance agent program to act in Canada. Kahane Law Office in Calgary, Alberta is able to assist with in house acceptance agents for ITINs.
What Does An IRS Acceptance Agent Do In Canada?
A Canadian notary public is not authorized to confirm identities for the purposes of getting an ITIN. In order to apply for an ITIN, you must have your identity confirmed by an ITIN agent. The acceptance agent will sign off on your W7 ITIN application. As part of the application process the certifying agent confirms your identity and completes a Certificate of Accuracy. If you are in the US, then you can use a Tax Payer Assistance Location for help. Most important, in our role, we do not simply stamp a copy of a passport. While we are happy to make a notarized true copy of your passport under Alberta Law, this copy fails to meet the US requirements.
Why Do You Need An ITIN?
Most of the time, people learn of their need for an ITIN from a US based accountant or withholding agent. Other times they find out from the IRS directly. In both instances, your acceptance agent helps you decide if you need an ITIN. We also help to determine the best approach for the application. An ITIN can help you avoid taxes and/or avoid a withholding taxes. Some examples of why you would require an ITIN are:
- Earning any rental income from US real estate;
- You plan to borrow money under a mortgage to buy property in the US;
- You plan to sell or already sold US property;
- Earning any business income from US sources;
- Receiving any US based royalties;
- You enjoy US lottery or gambling winnings; and lastly
- You are closely related to someone who files taxes in the US.
Why We Submit The Entire Application
The IRS tracks the rejection numbers that each acceptance agent incurs. As such, our policy includes that we only submit W7 applications that our office prepares. People often ask if we offer the service of simply stamping a passport for a W7 that they completed, or one completed by a US based firm. Do to the important of maintaining a low bounce rate with the program, our office no longer provides a simple stamping service.
Do Acceptance Agents Complete Your Tax Returns?
No, this is a function left to accountants or bookkeepers. Certifying agents roles, as set out in the contract with the IRS, lack the requisite authorization to complete and submit tax returns. Not all ITIN applications need US tax returns. Talk to use about your need to file a tax return. There are several exceptions from tax return filing requirements. As a result, your certifying acceptance agent helps you understand your options when making the application.
Other Document Requirements
In addition to tax returns, on some applications, there are additional forms that are required. Some of these documents will need to be prepared by third parties, such as withholding agents. Other times to documents will need need to be completed by our client before the ITIN application. While we cannot complete these documents for you, we will let you know which documents that we need and who generally prepares them. Finally, in some instances, a copy functions for the IRS. In other situations, the IRS requires an original document.
W7 Acceptance agents in Calgary
Navigating the US tax system as a Canadian can be confusing. Our ability to assist with ITINs stems from our contract with Internal Revenue Service (IRS) in the United States. It is not a function of our status with the Law Society of Alberta. Rest assured, we help when you need us. If you need an Acceptance Agent to finalize your W-7 Application, call today. Call today. 403-225-8810 or for fastest service, email us directly here.