FEDERAL TAX IDENTIFICATION
TAX EIN Federal Tax Identification Number Application Online
EIN application is not a Herculean task. You can do it from the comfort of home or office. The ways through which you can apply for EIN are
Online application : You can apply for EIN online. For online EIN application, all you need is filling the desired application form and submitting the required information as mentioned in the form. Once you fill the preliminary information, validation process is performed. After it, you will be alerted if you have missed to submit some of the necessary information. Once you submit the Form SS-4 in a complete manner from all aspects successfully, EIN is issued.
Application of EIN through Mail : Like the previous one, successful completion of the Form SS-4 is the sole ground to take your EIN application into consideration to issue EIN number. When you send this form through mail, it generally takes a four weeks time frame for processing. During this period, the authorities query about the entity type and follow other appropriate procedures to mail back the EIN number for your business venture.
EIN does not have expiry date, but you should keep in mind that it can not be reissued for the same business entity.
Federal Tax Identification (ID) number is also known as EIN i.e. Employer Identification Number. This number is a unique code which consists of 9 digits and is mainly issued for any business. This code is for each and every company who is operating in the United States (U.S), be it a large company or a small shop out there. These numbers are assigned to all the companies and it is mainly used during the deposition of payroll taxes. So, what is the use of this number? Do you need it? How will you know you are qualified for this? All these questions are answered bellow. Read on to know more about this.
Do You Need An EIN?
The most frequently asked question that almost each and every person ask is whether or not they need an Employer Identification Number or EIN. So, if you are operating a large business or a smaller one or even if you are the sole proprietor of your business, you need to make sure that you have the Tax ID with you. You will need this identification number for paying off taxes. If you have a business and employees under you or you have file any tax return policy for this employment then you need to have a Tax ID.
Even if you are an independent contractor and withhold taxes of any kind of income you earn, you need have this EIN or Employer Identification Number. Do your business operate as LLC Series, Corporation or Limited Partnership? If yes, then also you need to have this number. So, basically for any kind of business be it small or large, when you have to pay taxes related to payroll, then you need to make sure that you have this number. Now, for having this number you need to apply for it.
How To Apply For Federal Tax ID Number?
There are many ways by which you can apply for the Federal Tax ID number. Some of the most convenient ways to apply for this number are online, fax, mail and telephone. Here is brief information about all the ways –
Online: Applying online for the EIN number is very common and popular among customers. So, if you want to get your number you have to apply online from the Government website for this. You have to fill out some of the essential information that are asked for details. You have to use the online application only while applying for this online. After applying online you need to wait for few days. In this time they send the information and data for more validation. After a thorough checking and scrutiny, you will be offered with the new federal tax id number.
Fax: Taxpayers can send the Form SS-4 after completing it via Fax. The form must be in PDF format and you will be able to apply for that in this way. All the required information has to be filled over there in the form. Once the form is received it is reviewed and if it is determined that the company needs a new EIN then it is assigned to it after few days. It is mainly done within 4 business days.
Mail and Phone: you can also apply via a mail or even over telephone. This will help you to get your EIN. For that you need to provide all the essential information that is required for verification and provide you with a new Employer Identification Number. Mail can take a little more time than all other methods out there and thus it is the most neglected way.
All the processes and ways to apply for the federal tax id numbers are quite easy. The easiest and fastest way to apply for this number is online. So, if you have an internet connection along with a device to connect it then you can apply for it. This will help you to get the number easily without any kind of hassle and hard work. You can simply sit at home and apply for the number. Within few days, the number will be delivered to via mail or online.
Importance Of This Number
These are a lot of advantages or benefits of having a federal tax id numbers. If you own any business or company in the United States then it is inevitable that you will need a federal tax id number. Some of the importance of owning this number is that it is a validation of your citizenship, age and identity. Thus this works as a Social Security Number or SSN. This number is also very important in reporting your credits. If you are running a business, then you will understand that a business rely a lot on the credits. That is why this number is of huge benefit.
You can also use this number in any government forms that ask for this number to be filled. Even these numbers have to be completely verified in form of financial transactions. This can be opening of the bank accounts. Each and every organization and companies own an EIN or Employer identification number. This number is provided to all by the Internal Revenue system and it is a must-have one if you own a business or any organisation. You need to have this number when you are filling out form for your payroll taxes. This is a compulsory one which you need to have.
So, if you own any business in United States and fall under the criteria mentioned above then you should apply for the employer identification number. You will get it once you have applied successfully and all the verifications are done. The most important thing that you have to know is that you can get the number by a lot of methods. You can know about further and more detailed information about selection for the companies and businesses for this number from the Government website itself. You can get a lot more information about the Dos and Don’ts. So, there you need to fill the form accurately and wait for the response.