EIN Application A Comprehensive Look At The Employee Identification Number Application
If you are looking to open a business or take over an estate, you are going to have to be educated about your EIN Application. EINs are employee identification numbers that are used to recognize business for tax and identification purposes.
The Internal Revenue Service (IRS) will provide you with this number. You are going to be required to have an EIN, before you can move forward, so it is important to a leg up and learn about the EIN application process.. Below you will learn more information about applying for and changing EINs.
What Exactly Is an EIN?
An EIN will be nine-digit number that is used to recognize by the IRS to validate your identity. For example, when you go to open a business account you will be required to input this number on the banking form.
You are also going to have to include EINs on income tax forms, employment tax reports, and employee payments. You could think of this number as a social security number for businesses or those that do not qualify for a SSN.
Tips for Applying
If you want to get an EIN, you are going to have to fill out an EIN application better known as IRS Form SS-4. This form should not take that long to fill out, but depending on the method you file the time for receiving the number can vary.
The two most popular methods, of submitting a SS4 form is online and by phone. These two methods are so popular because when you are finished, your application will be received and processed much quicker than the snail mail method. However, when applying online you will need a taxpayer identification number and there may be an additional charge.
If you are going to apply online make sure you take your time and fill everything out correctly. You do not want to have to change information because it can take quite a while for the changes to go through.
When applying by phone, be sure you have all the required information right in front of you, so that you will be able to answer every question quickly and directly. This will not only speed up the process, but it will make everything go so much smoother.
You can also apply for an EIN by fax or mail. All you need to do is get the form either from printing it or getting it sent to you in the mail from your local IRS office. Just fill out the form and fax or mail it in back to the IRS center. When using the fax method, it will take 4-7 business days to receive the EIN number. When applying by mail it can take up to 4 weeks to receive the EIN number.
Are Taxpayer Identification Numbers And EINs Different?
No, these numbers are the same and they are utilized for the same purposes, so do not get confused, when filing for this personal identification number.
The EIN application is very self-explanatory, but if you have any questions, be sure to contact a representative at your local IRS office.