How to get an EIN regarding your business? Employer Identification or EIN is a nine-digit unique number issued by the IRS. EIN is used by self-employed individuals for certain tax or business purchases. If you are not sure whether you have an EIN or not. In that case, you can call IRS Business & Specialty Tax Line number. You can inquire from the institution whether you have an EIN or not. Apart from this, you can even take a look at your most of the recent tax returns.
How to get an Employer Identification Number (i.e. EIN) regarding your business?
In order to get an EIN, you need to follow these steps such as –
Speak with your accountant about the filing as a business or organization
First of all, if you have not set up your business yet, you need to speak to your accountant about it. You need to put together the proper paperwork so as to file as a business. As simply being self-employed does not mean that you need to have a Tax ID Number or EIN.
Decide how you can obtain your EIN
Once you have a legal business structure or an organization. You have a few options to get your Tax ID Number or EIN such as –
- Your accountant or financial institution may be able to help you in getting an EIN.
- One can use the IRS Business & Specialty Tax Line number so as to obtain an EIN.
- You can manually fill out the application Form SS-4 and mail or fax the completed application Form to the IRS.
- You can submit an online application for a Tax ID Number or EIN yourself.
- Gather your relevant paper work
No matter which means you choose for getting an EIN, you need to gather information necessary for completing the application. This information may include your business name and address, as well as what type of legal structure your business or organization may uses. This information is very important before filing the application online. As, once you start the online application, you cannot edit it and in case of inactivity of more than 15 minutes your session will get expire and you need start all over from the beginning.
Read through the application rules and guidelines
Once you have gone through the understanding of what is involved, you need to click on the “Begin Application” at the bottom of the page so as to start the process of an EIN.
Answer all the questions pertaining to your business or organization
In order to answer all the questions pertaining to your business or organization. You need to start with which type of business structure you have (corporation, sole proprietorship, partnership, estate or trust). Apart from this, you also need to answer few more questions. Such as the reason of why you are applying for an EIN and how you are related to the business.
Receive your EIN immediately
After you have submitted your EIN application, you can download, save and print all the paperwork so as to keep on file for the future needs. You need this EIN for any of the future business dealings such as filing of the tax return, opening of business bank account or for signing the contracts.