IRS seems to revised the application processing for Employer Identification Number and here is the new Issue Number: IR-2019-58 that outline the changes.
WASHINGTON — As part of its ongoing security review, the Internal Revenue Service announced today that starting May 13 only individuals with tax identification numbers may request an Employer Identification Number (EIN) as the “responsible party” on the application.
An EIN is a nine-digit tax identification number assigned to sole proprietors, corporations, partnerships, estates, trusts, employee retirement plans and other entities for tax filing and reporting purposes.
The change will prohibit entities from using their own EINs to obtain additional EINs. The requirement will apply to both the paper Form SS-4, Application for Employer Identification Number, and online EIN application. Continue reading →
An Employer Identification Number (EIN) is also known as a Federal Tax Identification Number, and is used to identify a business entity. Generally, every businesses need an EIN to electronically report their taxes with the IRS. Employer Identification Numbers are issued for the purpose of tax administration and are not intended for participation in any other activities (e.g., tax lien auction or sales, lotteries, etc.). If you don’t have one for your business, apply for it today and allow upto 15 days to get one in your preferred name.
Business owners and individuals interested in starting a business it is essential to have an employer identification number issued by the Internal Revenue Service for taxation purposes. It is important for businesses to enter the employer identification number when filing tax return. Taxpayers should keep in mind that the EIN is issued by the IRS is not intended for using for any other purpose such as sales and lotteries. Moreover, being somewhat similar to the Social Security Number, EIN is a 9 digit unique identification number mostly used by sole proprietors, corporations, partnerships, non-profit organizations, government agencies, and other business entities. Continue reading →