Today at our article space, we are going to talk about one of the most important element you need while you efile or paper file and that is, Employee Identification Number. It is abbreviated as EIN, stands a green signal holder for your return. It is mandatory to mention your EIN for further processes. When IRS introduced tax filing, SSN was applicable as a substitute number for EIN, however, with time, IRS have stopped accepting SSN as a replacement of EIN. |
And if you are new to the business world or new to the concept of EIN, don’t worry. We are here to explain you and help you in having one of your own before you precede to efile your tax return.
However, before we start, this one is for people who are new to the filing world. EIN is an identification number used by IRS in order to recognize you as a company or entity. The combination of the EIN and the name of the taxpayer are revised into unique identifier and that holds as a security for the system and the private setting owned by the federal. It is very important to mention your correct EIN. If the EIN mentioned in the IRS records doesn’t match with the EIN mentioned in the form, your return is likely to be rejected. If you don’t remember your EIN while filing your return or you have accidently misplaced it, reach IRS at 1-866-699-4096 and they would look into it for you.
New businesses keep following. You need a new EIN and we will tell you how exactly you can have one.
Apply for EIN Online:
If you are looking for a simple and easy method to apply for your EIN, send through your EIN request online to the IRS and trust me, you will not regret this one. The process is faster than ever and so is the outcome. All you need to do is, visit http://www.irs.gov/and click on Businesses, then click on Employer Identification Numbers (it’s on the left hand side of the page under “Topics”) for more information. It is fast, free and user-friendly.
Apply EIN Through Phone Call:
If you are not too much into the virtual world, you can always choose the second option, applying for an EIN through phone call. Dial 1-800-829-4933. However, we will not give you false hope. The process is indeed time consuming and you need to deal with lot of patience if you opt for this method. In addition, you need to wait for 15-30 business days to use your EIN to file your tax return, as IRS takes times to update the EIN in their records. If you tend to file your return before activation, your return will be rejected.
Apply By Mail:
You can also apply for an EIN through mail, and you will receive it within 4 weeks of time. You need to ensure that form SS-4 (PDF) contains all of the required information. If it is determined, that the entity needs a new EIN, you will be assigned with appropriate procedures and the same would be mailed to you.
Receive EIN through Fax:
Also, you can fax or mail Form SS-4, Application for Employer Identification Number, to the IRS.
The above are the mentioned methods applicable to apply for an EIN. As you cannot process your return further without an EIN, you need one for sure. So get yours before the due date to file tax touches your calendar and you have to deal with penalties. So which is the method you are filing EIN with? We hope you choose the right method. If you have any queries related to EIN and tax filing, you can always reach out for our Tax Experts. They are the best people to talk about tax and they will make it look simple than it is.
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