How to Get a Federal Tax ID Number & Fill Out The Form
Everything looked great. You finally took that great idea for a new home business off the scribbled notes you had been doodling for God knows how long and bit the bullet. You made the decision to start your own business.
Then you got the wind sucked right out of you. You realized you had to get a Federal Tax ID Number. Yipes…That meant you were going to have to sail through uncharted waters and call an accountant or do the unthinkable… Contact the IRS and do it yourself. Whoa! Don't panic you can do this, I promise…
This shouldn't take you more than 30 minutes from the time you start and the time you actually get your Federal Tax ID number. It won't leave a mark and it doesn't cost you any money. To apply for and get a Federal Tax ID number is free. Just fill out form SS-4, which you can get right here, right now and follow the instructions in this tutorial.
Let's go…Get your Federal Tax ID Number for FREE, in 30 minutes.
A Federal Tax ID Number, also known as an Employer Identification Number or
(EIN) is simply a 9 digit number assigned to certain business entities. If you're business has employees, you're required to have a Federal Tax ID Number.
To keep this quick and dirty, we're only going to run through the form assuming you don't have any kind of elaborate business structure. By that we mean your business isn't set up as a foreign entity, a trust or certain other enterprises. Basically we're talking about sole proprietors, partnerships and standard corporations.
There are two ways to go if you need to get your Employer Identification Number (EIN) or Federal Tax ID Number quickly…In less than 30 minutes.
1. If you're comfortable filling out and submitting IRS forms electronically, go to The Online Application for Employer Identification Number, Form SS-4 and fill out the
SS-4 application online. You'll get your EIN electronically.
2. If you would rather get a hard copy of the form, walk through the application process and then call the toll free IRS number that we'll provide, then go to Application for Employer Identification Number Form SS-4 and download the SS-4 form. It's a PDF file. After you fill out the form, you'll receive your EIN number right over the phone in minutes. (That's what we did).
Save a copy to your hard drive and print out a second copy that you can mark up. If you prefer, you could also just leave the document open and do this on the fly. Save a blank copy to your hard drive regardless. Pen in hand, let's get started…
Line 1 - Write down the legal name of the entity seeking the Federal Tax ID Number. Enter the name of the individual exactly as it appears on your Social Security card. Otherwise, just give the legal name of your business.
Line 2 - The trade name of your business, but only if it's different than line one. This is common for sole proprietors that "DBA" do business as another name.
Lines 4 through 6 - Information about the location of your business.
Lines 7a and 7b - Give the name of the principle officer, owner or partner and the corresponding SS#, ITIN or EIN.
Line 8a and 8b - Check the box that describes the type of business entity. Sole proprietors must provide a SS#. On line 8B, corporations will supply the state or foreign country where they're incorporated.
Line 9 - Check the box for the reason you're applying for an Employer Identification Number.
Line 10 and 11 - Give the date the business was started or acquired and the closing month of your fiscal year.
Line 12 - If you're paying wages, the first date wages were paid or the date that you plan to start paying wages.
Line 13 - Estimate the highest number of employees you plan to hire in the next 12 months.
Line 14 - Check the box of the business entity that is the closest to describing your principle business activity. Don't be afraid of using the "other" category as the list is very narrow. Just specify what it is. Painting mustaches on dangerous dogs would definitely qualify as "other."
Line 15 - Give the information necessary to best describe the principle line of business; IE merchandise sold, products produced or services provided.
Lines 16a thru 16c - Indicate whether you've ever applied for a Federal Tax ID Number at any time in the past. If you have, then you must provide the legal and trade names associated with that number and the approximate date, the city and state where the application was filed.
That's it. You're done filling out the form. Unless you're using a third party designee, you're only a few minutes away from getting your EIN. First, it's on to the telephone where you can complete the process.
With form in hand call 1-800-829-4933
The actual number supplied on the form is no longer used, that's why we've given you the new toll free number. You will hear a pre-recorded message with different menu options. Choose to apply for a new Employer Identification Number.
You will be greeted by a friendly IRS representative (I'm not kidding) she was very pleasant. She will ask you to answer the questions that you've already supplied on your downloaded SS-4 form.
She will put you on hold after gathering your info and return in about 1-2 minutes and reconfirm the information you've just provided. I can't confirm the following, but after the info is verified, she hits the "Create new EIN number now" button on her keyboard and the drum roll begins.
In any event, whatever she did, I had my EIN 15 seconds later. Write the number down on your handwritten SS-4 form and keep it with your records. That's it, finished, over and out of your hair for good.
PS…My wallet was $20 lighter because I was too lazy to take 10 minutes and research how fast and easy the process really is. There are a number of paid services available that will charge you to apply for an (EIN). It's really not necessary unless you've got some extra cash burning a hole in your pocket.
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