What is an Employee
Identification Number (EIN)?
An EIN, also known as a Federal Tax ID, serves as a Social Security number for your business. The IRS uses it to identify you for tax purposes. 1-800Accountant’s experienced team is ready to assist you in obtaining your EIN quickly and conveniently.
If you have employees or plan to hire them and operate as a corporation (LLC, S Corp, C Corp) or a partnership (LLP, LP, GP), you need a new EIN for tax and legal purposes.
IRS forms can be complex and time-consuming. Let efficient CPA’s handle the filing and liaise with the government on your behalf, simplifying the process for you.
When opening a business bank account or applying for a line of credit, most banks request your federal tax ID. Acquiring an EIN is crucial.
Who Needs an EIN?Your business requires an EIN if you:
- Have employees or plan to hire them.
- Operate as a corporation or partnership.
- File Employment, Excise, or ATF returns.
Obtaining Your EINQuick and Convenient
Applying online will yield an immediate EIN if the IRS verifies your Social Security number. Processing times may take days or weeks for other application methods, such as fax or mail. Foreign owners without a Social Security number must apply via fax or mail.
An EIN for Tax Filings and Business Protection
Your EIN serves as your business entity's identification for tax purposes, and you'll need it for various business-related transactions, including paying federal taxes. It provides essential protection for your business and is especially necessary if you plan to have employees.
Once issued to your business, an EIN remains valid and does not expire. If you lose or forget your EIN, the IRS database can be searched to retrieve it.
Bank Account with Ease
Most banks require an EIN or Federal Tax Identification Number to open a business bank account. Sole Proprietors may sometimes be allowed to use their Social Security number.
Start the EIN application process today and enjoy the benefits of a streamlined, protected, and compliant business setup with