Failing to renew an expired ITIN can lead to significant tax-related issues. Some potential consequences include:
- Delayed tax refunds: Tax returns filed with an expired ITIN may be processed slowly, causing delays in receiving refunds.
- Ineligibility for tax credits: You may not be eligible for certain tax credits or deductions if your ITIN is expired.
- Tax penalties and interest: If you owe taxes and your ITIN has expired, you may face penalties and interest charges.
- Difficulties with future tax filings: An expired ITIN can complicate future tax filing processes.
To avoid these negative consequences, keep track of your ITIN’s expiration date and renew it as needed.
