Go Back   CDN Business Directory > Main Category > Taxes

 
 
Thread Tools Display Modes
 
Old 03-29-2005, 11:49 PM
D. Stussy
Guest
 
Posts: n/a
Default Re: Using TIN or SSN Question

IPavlov wrote:

- quote -

> I have a question about using Tax ID vs. SNN on tax return:
> My wife didn't have a SSN, her visa status allowed her to
> have Tax ID (TIN) only, which we used for the last few years
> on our joint tax return.
> This year she received a permanent resident's status and now
> has a SSN.
> My question is:
> Can she still use her TIN for the 2004 tax return?


No. Use of an ITIN is based on not being eligible for an
SSN. As she now has an SSN, she is clearly eligible for
one, and thus the ITIN can no longer be used.

- quote -

> The reason I'm asking, she has a IRA account which is
> registered with her TIN and I'm afraid that if she uses SSN
> on tax return this year, IRS won't be able to match her IRA
> account contribution to our tax return, but on the other
> hand, I'm not sure if it is allowed or legal too continue
> using Tax ID (TIN) after receiving the SSN.


That's their problem; not your's. If they can't follow
their own rules, ....

- quote -

> I realize that it was the best to re-register her IRA
> account under her new SSN so that the report which the bank
> sends to IRS will be under her SSN, but now it is probably
> too late to do it for tax-year 2004.


That should have been done as soon as she got the SSN. The
bank has until May 31 to issue the 5498, so there IS TIME to
fix this.

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->
  #-1  
Old 03-24-2005, 02:13 AM
IPavlov
Guest
 
Posts: n/a
Default Using TIN or SSN Question

I have a question about using Tax ID vs. SNN on tax return:
My wife didn't have a SSN, her visa status allowed her to
have Tax ID (TIN) only, which we used for the last few years
on our joint tax return.

This year she received a permanent resident's status and now
has a SSN.

My question is:
Can she still use her TIN for the 2004 tax return?

The reason I'm asking, she has a IRA account which is
registered with her TIN and I'm afraid that if she uses SSN
on tax return this year, IRS won't be able to match her IRA
account contribution to our tax return, but on the other
hand, I'm not sure if it is allowed or legal too continue
using Tax ID (TIN) after receiving the SSN.

I realize that it was the best to re-register her IRA
account under her new SSN so that the report which the bank
sends to IRS will be under her SSN, but now it is probably
too late to do it for tax-year 2004.

Regards,
IP.

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->
 

Tags
question, ssn, tin


Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

All times are GMT. The time now is 08:51 AM.