What is an ITIN and how do I apply for one?
An ITIN (Individual Taxpayer Identification Number) is a nine-digit number issued by the U.S. Internal Revenue Service (IRS) to individuals who are required to file the U.S. tax returns. A tax professional must include the completed Form W-7, your original tax return for which the ITIN is needed and notarized copies of documents verifying the applicant. Is an ITIN required for any other purposes? An ITIN is required for the application of a Florida state Hotel License, State Sales Tax and a Business Tax Receipt (formerly Occupational License). These licenses allow you to operate your property as a short term rental dwelling. What tax returns are required and when are they due? • 1040 NR U.S Federal Tax Return due June 15th (Annually) – Income tax on earned income after deductions. Prepared and filed by a Tax Professional • FL DR 405 Tangible Property Tax Return due April 1st (Annually) – An ad valorem tax on the contents in the investment home. Prepared and filed by Management Company
