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Individual Taxes: What they are, how they differ, and when you need an ITIN

Understanding how individual taxes work is essential for anyone earning income, whether as a resident or a foreign business member in the U.S. This guide explains what individual taxes are, how they differ from business taxes, when an ITIN is required, and the steps to file through the Globalfy platform.

What are Individual Taxes?

Individual taxes are the taxes that people must pay on their personal income. These are typically based on a progressive tax system, meaning that tax rates increase as income levels rise.

In the United States, individual taxes are paid to the Internal Revenue Service (IRS) and are calculated according to each taxpayer’s taxable income.

Individual vs. Business Taxes

It’s important to distinguish individual taxes from business taxes:

  • Individual Taxes: Paid by individuals on their personal income.

  • Business Taxes: Paid by businesses on their income and profits. The amount and type of tax depend on the business structure (e.g., corporation, partnership, LLC) and the country’s tax laws.

Do I need an ITIN to file taxes?

Whether you need an Individual Taxpayer Identification Number (ITIN) depends on your residency and business status:

  • Foreign LLC Members: You must obtain an ITIN to file personal taxes.

  • U.S. Resident LLC Members: You will use a Social Security Number (SSN) instead.

  • Multi-Member LLCs: Each foreign member must apply for an ITIN separately.

How to File Through Globalfy

To file your taxes using the Globalfy platform:

  1. Log in to your platform: app.globalfy.com

  2. In the left-hand menu, click on Tax Season 2025/2026 and complete the form.

  3. Review your status by navigating to My Services → In Progress.

If you still have any questions or need further assistance regarding this topic, we are here to help!
 
✉️ Simply click here to submit your support request and our team will be glad to assist you.