As a payroll company, one question we get all the time is, “What is an ITIN, and why do you need one?”.
I know your time is valuable, so here's the short answer:
ITINs are issued by the Internal Revenue Service (IRS) to individuals who are required to have a U.S. taxpayer identification number but are not eligible for a Social Security Number (SSN). And you need one so that you can work on-the-books.
The Importance of ITINs for Workers
Tax Compliance: The most significant reason for obtaining an ITIN is to comply with U.S. tax laws. It allows individuals who aren't eligible for an SSN to file their taxes and fulfill their tax obligations, ensuring they remain in good standing with the IRS.
Financial Inclusivity: At Baron, we offer paycards, which are a pathway to more secure financial management.
Employment Opportunities: For workers, having an ITIN can broaden employment opportunities. Employers like Baron Payroll can legally include ITIN holders in their payroll, ensuring these workers receive fair wages and benefits.
The Benefits for Employers
Legal Compliance: Employing ITIN workers and including them in payroll systems helps businesses stay compliant with tax laws and labor regulations.
Diverse Workforce: Hiring ITIN workers contributes to a diverse and inclusive workforce, bringing in a range of skills and perspectives beneficial to any business.
Streamlined Payroll Management: With services like Baron Payroll's ITIN service, employers can easily integrate ITIN workers into their payroll systems, ensuring efficient and compliant payroll processing.
How Baron Payroll Facilitates ITIN Workers
Baron Payroll stands out by offering specialized payroll services for ITIN workers.
This includes providing:
- W-2 forms
- Spanish language options
- Payday advances
- Direct deposit even without a bank account.
These services not only assist in compliance and efficiency but also demonstrate a commitment to a diverse and inclusive workforce.
All in all, the ITIN is more than just a tax processing number; it's a gateway to financial and employment inclusivity.
For employers, embracing ITIN workers means tapping into a broader talent pool and fostering a diverse workplace culture. For workers, it's about accessing rightful employment opportunities and financial services.
With the support of payroll companies like us at Baron Payroll, navigating the complexities of ITIN becomes seamless, benefiting both employers and employees in the long run.
Do You Want to Put Your ITIN Workers on Your Payroll?
- Have you been told it's not possible?
- Have you been told it's not legal?
- Are you worried about the DOL?
- Are you worried about your ITIN workers getting injured and not being covered by workers comp?
If so, then we can help.
At Baron Payroll, we are experts at managing the complexities of adding your ITIN workers to payroll, and we’ve been doing this successfully for over 20 years.
The best part is... we’ve included our ITIN package for FREE with our payroll services.
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Have employees with ITINs that you want to add to your payroll?
Baron will do this for you!
