But did you know that more than 4.3 million immigrants who cannot process a social security number have chosen to obtain an Individual Taxpayer Identification Number (ITIN) to be able to pay taxes in the United States? This group includes undocumented people, international students, and investors. But why is it important to file taxes even if this may be a signal to the government that you don’t have legal immigration status?

The law requires that all people who work in the US must file a tax form and pay taxes to the federal government regardless of the immigration status of the individual. The main motivation for applying for ITINs for many immigrants is to increase their chances of obtaining citizenship or appealing an immigration trial. Additionally, the ITIN is a valid ID to build a credit history and access different financial services such as credit cards, loans, and mortgages in the United States. More than 27 million dollars have been disbursed by credit unions to immigrants with ITINs during 2017.

Something very important to keep in mind is that an undocumented immigrant does not increase his or her chances of being deported or identified as an unauthorized resident by obtaining an ITIN and paying taxes. Under the current law, even though the U.S. Immigration and Customs Enforcement (ICE) has the power to deport undocumented immigrants, the Internal Revenue Services (IRS) , who issues the ITIN, does not share information with ICE. According to the Center for Bipartisan Policy, “Addressing these conflicting interests would require legislative change and would involve millions of taxpayers, meaning that the current situation is likely to prevail in the near future.”

So if you work or receive income payments in the United States and you cannot process your SSN due to your immigration status, processing your ITIN will help you pay taxes and create solid evidence when applying for your residence in the US. You can also access better financial services during your stay to decrease your financial expenses. Visit crediverso.com to find out how to obtain your ITIN and review the best financial products designed for you.