What are the advantages of having tax ID (ITIN)?

The ITIN, in addition to being used for filing taxes, can also be tied to your bank accounts and consistent payment will generate your credit score with the credit agencies: Experian, Transunion and Equifax, which are used by banks and other institutions when issuing lines of credit.

It is important to note that:

  • It can help you prove that you have good moral character and that you were present in the United States if you have the right to apply for an immigrant status.

It may allow you to open a bank account and as mentioned above establish a financial history.