Filing for a Tax ID Number

Filing for a tax ID number is to request for the application to get your Tax ID number. Your tax id is very important to run your business to the large extent. TIN is a unique identification number that helps you to keep your transaction records easily. This is also called TIN in short which means Taxpayer Identification number. To get a Tax ID number, you need to be aware of documents needed for applying TIN and other related information. The TIN number is a helpful tool that helps you to track your tax obligations and payments that are made to the IRS. It is issued by the Federal Government.

A business owner needs a tax ID when he files business taxes. A sole proprietor without employees doesn’t need to file for a tax ID. The tax ID is not required if you are an LLC and you are not having any employees in your business. Then use your social security number as your tax ID. You should need your tax id in these mentioned cases:

  • If you are having your existing business and you just want to run it as a sole proprietorship.
  • Furthermore, you will require the tax ID when you change business from a sole proprietorship to a corporation.
  • On the other hand, if your business changes from a partnership to a corporation or to a sole proprietorship.

These are some cases when you need your tax ID on a priority basis. Now we will discuss also the procedure for filing a tax ID number.

How do I file for a tax ID number?

In this case, if you have the SSN then it can be used as tax ID number. But it will be applicable only in the conditions which are mentioned below:

  1. If you are up to open a personal bank account.
  2. Moreover, if you are hired as an employee.
  3. applying for a passport.
  4. applying for a federal student loan.
  5. In addition to this, if you are applying for Medicare and social security benefits.
  6. If you are applying for public assistance
  7. Also, you can check your credit rating.

What documents required to get a Tax ID?

For filing the tax ID number, you will require some important documents through which you will be eligible to do the further process. As such if you don’t have the complete documents which we need, though you would not be able to apply for a tax id number or a TIN number. So, let’s have a look over the documents needed section first before applying for the TIN number exactly.

  1. Your Id proof
  2. Address proof
  3. PAN card of proprietor with 4 to 6 passport size photos
  4. Business premises’ address proof 
  5. Reference and security as well as surety needed
  6. The purchase invoice and copy of LR/GR and Payment 
  7. The collection proof with the bank statement is required.

How can I get a Tax Id or TIN number?

This is already been said that for getting or applying for a Tax Id number, you have to submit the aforesaid documents first. Only then you would be able to apply for a Tax id if you have the complete documentation.  You can apply for a TIN number easily online as well as offline. This is automatically furnished while registering your business in VAT or CST

While applying for your Tax ID, fill in the right state code for which you are applying for. But for your information, you can use it for inter-state and intra-state business transactions in a single place. Now get the process to file your TIN number.