So we have covered almost every topic about form 2290. However, did you know, the most important information used to file form 2290 is an Employee Identification Number? Well, it is. 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. |
If you are new to the business world, and you don’t possess an EIN, don’t worry about it. We are here to explain you everything you should know about EIN, before you possess one.
Introduction to EIN:
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 identification number and if the EIN present 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 an online freak, and you deal with almost everything through the virtual world, this is the method to gain your EIN as well. Send in your EIN request online to the IRS, and you will not regret for this. The process is faster than ever and so is the outcome. All you need to do is, visit 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 holding a big “NO” board for online application, you can always choose the second option to apply EIN i.e. 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. Also, you need to wait for 15-20 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:
Another method added in the list is, apply 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. So which is the method you prefer applying your EIN through? As you know, you cannot process your return without a valid EIN, you need to apply and have one for sure. So get yours before the due date to file tax touches your calendar and you have to deal with penalties. 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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