ABOUT EIN

The EIN, also known as the Tax ID Number, is essential when you start a business. This number is issued to your company by the IRS. That sounds scary, IRS, boo! No need to worry, here’s a simple breakdown.

An Employer Identification Number (EIN) is a unique nine-digit number given to businesses by the IRS. It's like a Social Security number for your business, mainly used for tax purposes. You can easily apply for an EIN through the IRS and get it right away. There is no cost to file it directly with the IRS and it’s a quick process. 

Yes, just like you registered your business with the state, you have to register it with the IRS. The state will not file this for you, but there are service providers that will. It’s usually better to obtain your EIN after you have received your Registry Documents. This is because the state may reject the name of the company you are creating, which would result in extra steps to change it on your EIN with the IRS. And let’s be honest, waiting on the phone to talk to the IRS is no walk in the park.

The EIN is required to pay your company taxes, hire employees, open a business bank account, and meet compliance requirements. When a baby is born, it is assigned a Social Security Number; when a company is born, it is assigned an Employer Identification Number (EIN). 

Now, go get yours.

Yes, you do not necessarily need a Social Security Number or ITIN to apply for and obtain an EIN for your business. It will just take a little longer to receive it, and you will have to do it via fax or mail using Form SS-4. You can also leave it to the experts, so they can get it for you.

You’re on your way! With the right guidance, you can have the IRS work in your favor. Go get 'em!

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