Apply for an EIN Number Online (Federal Tax ID)

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The corporate equivalent of the social security number, the Employer Identification Number (or EIN), is issued to anyone paying employees withholding taxes. It is also sometimes referred to as the Federal Employer Identification Number (FEIN). A business entity's Employer Identification Number (EIN number) is also known as a Federal Tax Identification Number.

 

The IRS gives employers, sole proprietors, business entities, government agencies, estates and trusts, partnerships, and non-profit organizations the EIN, which is a nine-digit number. The IRS utilize the Business ID Number to distinguish and record which citizens need to document government forms for their organizations. In order to pay their employees and file business tax returns, businesses must obtain EINs for themselves. The owner's personal Social Security number will be the number used on any tax forms for businesses that do not obtain Employer Identification Numbers for themselves. You should know that what does llc stand for.

 

So, how can you tell if your company is eligible and requires an EIN? If you answer yes to any of the following questions, you will need an EIN:

 

Do you have any workers?

 

As a business man you should know what is a c corporation.

 

Do you run your company as a partnership or a corporation?

 

Have you filed any of the following tax returns, or are you planning to do so? Alcohol, tobacco, employment, excise, or firearms?

 

Are you withholding taxes from non-wage income to be paid to foreign nationals?

 

Do you have a Keogh strategy?

 

Do you participate in any of the following organizations?

 

Exempt Organization Business Income Tax Returns, IRA Conduits for Real Estate Mortgage Investment Organizations that are Non-Profit Estates Farmers' cooperatives Plan administrators You are required to obtain an EIN Identification Number regardless of whether your business is to be a partnership, LLC, Corporation, or S Corporation or a non-profit organization. The exception to this rule is some grantor-owned revocable trusts. It is vital for a business person to understand s corporation meaning.