I’m on an H4 visa with an ITIN and want to open a bank account in the U.S. to receive payments for online freelance work. Is this allowed, and will I need to pay taxes on the earnings?
Answer by: abdullah-al-naim
2 weeks ago
Since H4 visa holders are not allowed to work, they are not issued the Social Security Number. However, they get the tax ID called ITIN. ITIN form should be sent to the IRS address, that is separate from the tax return address. H-4 visa holders are allowed to open bank accounts and hold a driver\’s license.
As for paying tax on money received from freelance work: While you may not owe any income taxes, as a freelancer, you must pay self-employment taxes in addition to regular income taxes. Self-employment taxes start if you earn $400 or more. Therefore you must file a tax return if you gross $400 or more.
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Get one with the assistance of an IRS CAA.
