IRS and the SS-4 (EIN)
Beginning on May 21, 2012, the IRS began limiting the number of Employer Identification Numbers (EIN) that a responsible party could request. Before May 21, 2012, the an individual or organization could request five new EINs a day. As of May 21, 2012, an individual or organization can only request one EIN a day. You can request an EIN online, by fax, or by mail.
Normally, I will download the Form SS-4 to review and fill out the form before submitting the form online, by mail or by fax. A benefit of submitting the SS-4 form online is that you can get the EIN and the letter after you hit the submit button. Submitting the form by fax or mail will take several days to get generate the EIN.
The information needed to prepare the SS-4 is:
1. Name of the business
2. Mailing and location address of the business
3. County and State where the business is located
4. Name and Tax ID (SSN, EIN, ITIN) of the Responsible Party
5. Whether the application is for and Limited Liability Company (LLC)
If Yes, number of members in the LLC
6. Type of Entity
7. Reason for applying for and EIN
8. Date the business started
9. Closing month of the fiscal or calendar year
10. Number of employees expected to be hired.
11. First date wages were or is expected to be paid
12. Principal business activity
13. Type of business or service
14. Whether you’ve ever applied for an EIN before
15. Third Party Designee information
After pulling this information, you will just need to sign and date the form. The Third Party Designee only needs to be completed if you have someone other than the person signing the form submitting the form.
That’s all there is to filling the SS-4 form to get your business started. Just mail, request online, or fax the form. A copy of the Form SS-4 can be found at the IRS website or by clicking this link.
CIRCULAR 230 DISCLOSURE
“We are required by IRS Circular 230 to inform you that the advice contained herein (including all attachments) was not intended or written to be used for the purpose of avoiding any penalties that may be imposed under Federal tax law and cannot be used by you or any other taxpayer for the purpose of avoiding such penalties.”
Post Footer automatically generated by Add Post Footer Plugin for wordpress.
Navigating The Tax Headline of the Week
NewsletterQ&A coming soon.
Tax TipsThe Additional Child Tax Credit is available on dependents under the age of 17.
- CIRCULAR 230 DISCLOSURE "We are required by IRS Circular 230 to inform you that the advice contained herein (including all attachments) was not intended or written to be used for the purpose of avoiding any penalties that may be imposed under Federal tax law and cannot be used by you or any other taxpayer for the purpose of avoiding such penalties."
Your Tax Teacher Podcast Recent EpisodeTax refunds will start....
Subscribe to the Your Tax Teacher Weekly Navigating the Tax Headlines and Get the Millionaire Tax Strategy for FREE!